Network Appliance Saw Demand Uptick After Attacks >NTAP
By Donna Fuscaldo
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--Although Network Appliance Inc. (NTAP) saw a surge in
demand in the aftermath of the Sept. 11 attacks, the revenue impact was
minimal, said Chief Executive Dan Warmenhoven.
Network Appliance shipped a large amount of equipment, but most was for
replacement, Warmenhoven said. While the immediate uptick in demand didn't
significantly help sales, the executive said it helped build the company's
credibility. It gave the company an opportunity to prove it can deliver, he
said Wednesday at Prudential Financial's 18th Annual Technology Conference
here.
According to the executive, the storage industry, barring another economic
downturn, has found a "stable point." Business in Japan is booming, he said,
but business in Germany and the rest of Central and Eastern Europe is seeing
signs of softening.
Warmenhoven said the fact that storage always needs to be upgraded will lead
a rebound once the economy improves. "A number of customers are maxed out
(in regards to storage capacity) and pressure is building to do something,"
he said.
Network Appliance shares recently were up $1.05, or 9%, to $13.23 on volume
of 9.2 million, compared with average daily volume of 9.1 million.
-By Donna Fuscaldo, Dow Jones Newswires; 201-938-5253
(END) DOW JONES NEWS 10-31-01
02:47 PM
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