McDATA Updates Preliminary Revenue and EPS Guidance for Third Quarter 2002
BROOMFIELD, Colo., Oct. 8 /PRNewswire-FirstCall/ --
McDATA(R) Corporation (NASDAQ:MCDTA, MCDT), the worldwide leader in open,
ultra high-availability storage networking solutions, today updated its
third-quarter preliminary revenue and earnings per share (EPS) guidance.
McDATA currently expects revenue to be in the range of $80 to $81 million in
the third quarter, compared with previous guidance of $83 to $84 million, and
previous second quarter revenue performance of $77.3 million. Despite the
slightly lower-than-expected revenue, the company expects improved pro forma
EPS for the third quarter to be in the range of breakeven to a loss of
$(0.01), excluding non-cash deferred compensation and amortization charges.
This compares with previous guidance of $(0.01) to $(0.02) and second quarter
results of $(0.02).
"McDATA's third quarter preliminary revenue and EPS performance was strong
despite the current softness in IT spending," said John Kelley, CEO and
president of McDATA. "IT departments are challenged with maintaining growing
storage networks without committing significant capital dollars. McDATA just
announced the availability of the Intrepid(TM) 6000 Series 140-port Director
and will continue to bring products to market that will help our customers to
manage their storage networks cost efficiently. We see consistent demand for
SANs which suggests that this high ROI product remains a priority for tech
spending."
McDATA will report its third quarter 2002 results on October 17th, when
the company will discuss its results in detail. |
