In this paper, employing Lyapunov functional and elementary inequality $(2ab\leq ra^2+\frac{1}{r}b^2,\ r>0)$(2ab\leq ra^2+\frac{1}{r}b^2,\ r>0), some sufficient conditions are derived for the existence and uniqueness of periodic solution of fuzzy bi-directional associative memory (BAM) networks with time-varying delays, we obtain some new and simple criteria to ensure global exponential stability of periodic solution. These criteria are important ...