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McData's Mixed Bag

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, McData’s CEO, ackowledged the missed targets, citing seasonality and increased competition. The CEO also expressed his frustration at McData’s 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 EMC’s qualification by the end of September. (See McData Takes a Direct Hit and McData's Qualification Quagmire.)

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