Updated from 5:07 p.m. EST

McData ( MCDTA) boosted fourth-quarter revenue by 72% and swung to a 3-cent a share profit from last year's nickel-a-share loss, the storage gear vendor reported after Thursday's closing bell.

Revenue in the fourth quarter of fiscal 2005 was $181.8 million, compared with $105.7 a year ago. Net income was $5.3 million, or 3 cents, compared with a loss of $7.5 million, or 5 cents a share in the last quarter of 2004.

Excluding items, which included restructuring and severance costs, the Broomfield, Colo., company posted a profit of $12.6 million, or 8 cents a share. Analysts polled by Thomson First Call were looking for a 6-cent profit on sales of $180.41 million.

Revenue guidance for the first, or April, quarter was in line with expectations at a range of $167 million to $177 million while the midpoint of non-GAAP EPS guidance of 3 cents to 5 cents a share was a bit light compared with the First Call consensus of 5 cents.

Investors viewed the report as positive; in after-hours trading shares were recently up 14 cents, or 3.2%, to $4.57.

On Wednesday, the company announced that EMC ( EMC) has qualified its i10K switch, an action that took about nine months longer than expected.

The qualification should remove some uncertainty from the stock, but during a call with analysts after the earnings announcement, McData executives said not to "expect a hockey-stick ramp" for the new product.

The company did not give guidance for the full fiscal year 2006, but executives said they were "optimistic" about prospects for the year.

McData will begin expensing stock options in the April quarter; the company said that the new accounting rule will cost McData 2 cents a share in each of the first two quarters of the year, and a penny in each of the final two quarters, for a total 6 cents a share.