McData seesaws through Q4
PrintWin some, lose some
Posted in Storage, 25th February 2005 17:40 GMT
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Switch maker McData had some serious ups and downs during its fourth quarter.
On the plus side, McData reported a breakeven quarter, which beat out a net loss of $7.5m in the same period a year ago. McData, however, saw revenue fall during its most recent quarter. It posted revenue of $106m in Q4 - down 7 per cent from last year's Q4.
For the full year, McData reported revenue of $400m. This total was 5 per cent less than last year's $419m.
During the quarter, McData announced its intention to acquire CNT for $235m in stock. It also closed a deal where Hitachi will sell the Intrepid 10000 Backbone Director.
Investors had little reaction to McData's results with its shares falling just more than 2 percent to $4.08 at the time of this report. ®
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