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Technology Stocks : Network Appliance

NTAP 115.99

+1.1%

Dec 4 3:59 PM EST

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To: Miguel Octavio who started this subject	3/15/2001 1:03:05 PM
From: pirate_200	Read Replies (1) of 10934

Here is the guidance I am following: See: ntap.com (listen to the "Outlook" section for NTAP's view on future Q4 and FY2002) NTAP is guiding for sequential revenue growth of 10% to 15%. That puts Q4 revenue in a range of $317.24M (.11 EPS) to $331.66M (.12 EPS). NTAP said they are targetting the low-end of that range which means revenue closer to $317M. NTAP says that FY2001 will be about $1.1B in revenue and they are setting a target of FY2002 at a growth rate of between 55% and 60%. The FY2002 estimates of 55% to 60% growth yield an earnings per share range of .64 and .66. At a price-to-earnings-growth-rate (PEG) of 1, that yields a target price range of $35.20 (.64 x 55) and $39.60 (.66 x 60). NTAP management is conservative, so the assumption is that so are these target growth rates. I believe the analysts are taking the estimates lower now to help the upside case to pump the stock to their customers later.

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