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Technology Stocks : Son of SAN - Storage Networking Technologies
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To: Douglas Nordgren who started this subject11/13/2001 6:03:31 PM
From: Gus  Read Replies (2) of 4808
 
Netapp continues to gain market share.

NTAP Revenue Breakdown
Last 4 quarters

       NAS      NetCache  Hardware   Software     Total
     Hardware   Hardware    Total      Total     Revenue

2Q01 $ 195.3M    $ 21.2M  $216.5M    $ 44.3M    $ 260.8M 
3Q01   210.6M      25.9M   236.5M      51.9M      288.4M
4Q01   144.2M      36.5M   180.7M      45.2M      225.9M
1Q02   140.3M      20.0M   160.3M      40.1M      200.4M
2Q02   128.5M*     27.3M** 155.8M*     38.9M*     194.7M

*estimate - if Caching=14% ($27.3M) and Software=20% ($38.9M) then NAS=66% ($128.5M).

**NTAP guidance - caching accounted for 14% of revenue.

1) Databases accounted for only 25% or around $48.7M with the major database vendors (Oracle, IBM and Microsoft) on the cusp of a major escalation in the database wars related to the next great thing -- web services.
2) Filers -- approximately 1/3 high-end, mid-range and low-end or approximately $42.8M each.
3) Guidance -- 3Q02 revenues and earnings relatively flat to 2Q01 and 1Q01.
4) SAN still accounts for 0% of NTAP's business.
5) Sidebar: Quantum (SNAP) posted 5% sequential growth from a low revenue base of around $15-$20M. Maxtor posted an 8% sequential growth from a low revenue base of around $10M. Dell recently dumped Quantum in favor of its own internally-developed NAS products so Quantum's growth is going to slow down significantly.

It looks like NTAP is once again going to miss out on the bounce in SAN deployments. From LSI's earnings report:

.....Chairman and Chief Executive Wilf Corrigan said on a conference call with analysts to discuss the results that ``we're pretty confident order input bottomed'' in the second quarter.

``We are seeing orders placed on some products that we have not seen much demand for since the beginning of the year,'' Corrigan said. He added that storage components and storage systems also bottomed out during the past quarter and expects modest growth for both of those businesses in the fourth quarter.

``In networking, the enterprise sector appears to be stabilizing, while the weakness in wide area networking is expected to continue into the first quarter,'' Corrigan said, echoing comments chipmaker Altera Corp. made on Monday about its own sales into the networking industry.

biz.yahoo.com
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