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.
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