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Technology Stocks : MCDT -- Ignore unavailable to you. Want to Upgrade?

To: w2j2 who wrote (133)	10/8/2002 10:02:18 AM
From: w2j2	Respond to of 145

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.