NTAP beat both earnings and sales forecasts. Earnings per share were $0.10 compared to a forecast of $0.09, and sales were $260.8 million compared to a forecast of $255.3 million (see the Reuters report below).
Network Appliance beats forecasts in quarter
SAN FRANCISCO, Calif., Nov 14 (Reuters) - Computer network storage maker Network Appliance, Inc. <NTAP.O> reported second quarter sales and earnings on Tuesday that beat expectations.
The Sunnyvale, Calif.-based firm said sales rose 109 percent to $260.8 million in its fiscal 2001 second quarter from $124.7 million in the quarter a year earlier.
Pro forma net income for the quarter rose 128 percent to $36.6 million, or $0.10 per share, compared to pro forma net income of $16.1 million, or $0.05 per share for the same period a year ago.
That compared to consensus forecasts for the quarter of $255.3 million in sales and per share earnings of $0.09, as calculated by First Call/Thompson research firm.
Network Appliance, known as NetApp, builds complex systems to store and quickly access data that are critical for Internet firms and others trying to manage the tidal wave of information that users inside and outside of companies need to use. |
