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McData Corp. posted a third-quarter loss today on the back of supply chain problems with its 256-port i10K director (See McData Reports Q3 Results.)
McData reported net losses of 5 cents per share and $7.5 million, compared to net losses of 5 cents per share and $5.5 million in the same period last year.
McDatas non-GAAP results were 2 cents per share on net income of $3.6 million, compared to 4 cents and $4.6 million in the last year. Analysts had estimated earnings of 1 cent per share.
Speaking on a conference call this morning, John Kelley, McDatas CEO, ackowledged the missed targets, citing seasonality and increased competition. The CEO also expressed his frustration at McDatas inability to make good on its partnership with EMC, which, although shipping the i10K, is yet to make it generally available.
Earlier this fall, Kelley said there were small obstacles left to overcome in this process, but he hoped for EMCs qualification by the end of September. (See McData Takes a Direct Hit and McData's Qualification Quagmire.)
With the move to the cloud, CISOs must shift priorities from operating security programs to overseeing (monitoring and auditing) outsourced cybersecurity programs.
2022 was a boon year for IT salaries. 2023 came in like a beast with layoffs, raise freezes, and ChatGPT, but that beast has few teeth.
Age is only a number. Don't let a high number cancel your career.
