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The third shoe dropped in the Fibre Channel switch market today, as McData reported a redemptive quarter after close of business.
McData reported fourth-quarter net revenues for the period ended January 31, 2006, of $181.8 million, up 8 percent compared to $168.5 million year-on-year. Full-year 2005 net revenues were $614.4 million, up from $399.7 million for full-year 2004. (See McData Reports Earnings and McData Struggles to Keep Pace.)
McData ended the year with nearly 54 percent more revenues than last year. And the quarterly results were substantially better than last quarter, when McData reported net losses of 5 cents per share and $7.5 million. (See McData's Mixed Bag.)
"I'm very pleased with our results this quarter, representing record revenue for McData," said CEO John Kelley.
McData execs claim strong sales across the board accounted for the improved picture. Sales of Fibre Channel directors in particular rose "by low double digits" sequentially, they claim; fabric switch sales were flat, and SAN routers were up year-on-year, though sales were down sequentially.
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