Storage networking company

McData

(MCDTA)

said its first-quarter revenue rose slightly from a year ago, while its loss narrowed.

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Revenue for the first quarter was $98.9 million, compared with $105.7 million in the fourth quarter and $97.2 million a year ago. Excluding items, the company earned $3 million, or 3 cents a share.

On a GAAP basis, McData lost $2.9 million, or 2 cents a share, vs. a loss of $9.8 million, or 9 cents a share, in the year-ago first quarter.

Before items, analysts polled by Thomson First Call were expecting a profit of 2 cents and revenue of about $99 million.

Shares of McData were gaining 12 cents to $3.64 in premarket trading.