McData Raises Guidance Again

Storage network company McData ( MCDT) raised its first-quarter earnings and revenue estimates for a second time Tuesday.

The Broomfield, Colo., hardware company expects to earn at least 4 cents a share on a GAAP basis, with revenue of $102 million to $103 million in the quarter ended April 30. Before various items, McData expects to earn 5 cents a share in the quarter.

In March, the company had raised revenue guidance to $92 million to $97 million, and GAAP earnings guidance to 2 cents to 4 cents a share.

McData's shares closed Monday night at $10.06.

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