McDATA Announces Results, Sees Wider Loss

Broomfield, Colorado-based storage networking switch provider McDATA last night announced its third quarter results. The firm said it had net revenues of $156.1M in the third quarter, compared with results of $168.5M in Q3 of 2005. Its net loss was $26.3M in the quarter, compared with a loss of $7.5M for the same quarter last year. McData is in the midst of a merger with competitor Brocade Communications.