Here how that oft mention storage company did last Q....
Thursday May 18 5:31 PM ET
Network Appliance: Sharp Earnings Gain
SUNNYVALE, Calif. (Reuters) - Network Appliance Inc. (NasdaqNM:NTAP - news), a maker of storage devices widely used by Web sites, Thursday reported sharp gains in revenue and profit in the latest quarter, slightly exceeding analysts' forecasts.
Sunnyvale, Calif.-based Network Appliance said its net income rose 128 percent to $24.5 million in its fiscal fourth quarter ended April 28, from $10.7 million a year ago.
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Earnings per share rose to 7 cents a share from 3 cents a share. The Wall Street consensus was for earnings of 6 cents a share, according to First Call/Thomson Financial.
Revenues in the quarter climbed 120 percent to $200 million from $90.8 million. For the year as a whole, they were up 100 percent to $579.3 million, from $289.4 million the prior year.
``Global storage demand continued to accelerate throughout the fiscal year, as companies transformed their enterprise systems and deployed network storage infrastructures powered by Network Appliance,'' said Network Appliance chief executive Dan Warmenhoven.
As companies go on line, they are buying Network Appliance's products to store and manage vast amounts of digital information. Network Appliance's products also are used to speed access to Web sites, and allow data to be pooled centrally and then accessed from any point along a network. It has also been selling more of its wares to Internet service providers and Internet portals.
During the past year, Network Appliance was ranked by Fortune Magazine as the 4th fastest growing U.S. company and was added to the S&P 500 and the NASDAQ-100 indexes. It announced a stock split after the third-quarter results. Brokerage company Bear, Stearns & Co, chipmaker Motorola Inc. and Internet router giant Cisco Systems Inc. are among its customers.
Anyone listen in on the call?
PS ON Yahoo someone said ANCR is above the QLGC conversion price. Is this a sign of shorts heading for the exits? |
