narrowed the range of its expected first-quarter results, saying revenue will probably be at the low end of its estimates while earnings will likely be near the high end of its forecast.

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The company expects to report revenue for the quarter of $98 million to $99 million, compared with its previous range of $98 million to $103 million. McData expects to earn 2 cents to 3 cents a share before items, vs. the company's previous range of 1 cent to 3 cents. In the year-ago first quarter, the storage networking company had revenue of $97.2 million and non-GAAP earnings of 1 cent a share.

Analysts polled by Thomson First Call expect McData to earn 2 cents a share on revenue of $100.7 million in the first quarter.

Shares of McData were down 2 cents to $3.26 in morning