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To: Lizzie Tudor who wrote (15597)	1/6/2003 9:41:40 AM
From: stockman_scott	Read Replies (1) \| Respond to of 57684

McData Pulls Out Huge Quarter By TSC Staff 01/06/2003 08:59 AM EST McData (MCDT:Nasdaq - news - commentary - research - analysis) said strong sales of two new storage switches boosted fourth-quarter sales well above its previous guidance, and will result in a profitable 2002 on a pro forma basis. The outlook sent the company's shares up $1.50, or 18%, to $19.50 in the Instinet premarket session. Fellow network storage players Network Appliance (NTAP:Nasdaq - news - commentary - research - analysis) and Brocade (BRCD:Nasdaq - news - commentary - research - analysis) were also rising. Network Appliance was up 3.4% to $11.08, while Brocade was adding 7.8% to $4.98. Broomfield, Colo.-based McData expects fourth-quarter revenue of $104 million to $106 million and earnings of 5 cents to 7 cents a share, using standard accounting. Excluding noncash compensation and amortization charges, the company expects earnings of 6 cents to 8 cents a share in the quarter. McData had previously predicted it would post fourth-quarter revenue of $84 million to $86 million and pro forma earnings of break-even to 1 cent a share. The company said it benefited from seasonal strength late in the quarter, but also said "it is clear that McData gained market share." "McData's preliminary fourth-quarter performance reflected a very strong ramp-up in orders for our recently introduced new products and strong demand across all channels," the company said. "Revenue for both the Intrepid 6000 Series 140-port Director and the Sphereon 4500 fabric switch was more than double our expectations for the fourth quarter." thestreet.com