NTAP earnings report: sales and earnings up sharply, what else is new? They did $200 million this quarter, up from $90m Y-Y, earnings more than doubled as well, from 3 to 7 cents. Now if Snap could start making that kind of money....
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.
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