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Unlike its major switch rivals, McData Corp. (Nasdaq: MCDTA) had mixed results when it announced its quarterly earnings today. Its revenues and earnings rose, but so did its expenses, and guidance failed to suggest much growth next quarter.
McData reported income of $3.3 million, or $0.03 per share, beating the First Call estimate by $0.02 per share. That was up from $2.1 million, or $0.02 per share, in the previous quarter, but down from $10.6 million, or $0.09 per share, from the same quarter last year. McData's $114 million in revenue for the January quarter was up 20 percent sequentially and eight percent year-over-year (see McData Nudges Up Q4 Earnings).
For the fiscal year that ended in January 2004, McDatas income of $24.3 million or $0.21 EPS was up from $5.9 million or $0.05 EPS last year. Revenues for the year grew 28 percent to $418.9 million.
"Our product revenue was up on all fronts," CEO John Kelley said in a call with analysts. "We held serve in directors and switches, with more to come there." [Ed. note: That's not a typo. "Held serve" is a tennis term.]
McData was the last of the three major switch vendors to report earnings, following positive reports by Cisco Systems Inc. (Nasdaq: CSCO) and Brocade Communications Systems Inc. (Nasdaq: BRCD) (see Brocade Battles Back and Cisco Storage Growing Up).
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