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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Uncle Frank who started this subject	8/19/2003 4:36:45 PM
From: Uncle Frank	Read Replies (3) of 54805

First-quarter earnings at Network Appliance (NTAP:Nasdaq - commentary - research) rose 67% on strong sales, the company reported on Tuesday. The enterprise storage vendor earned $27.1 million, or 8 cents a share, in its first quarter ended Aug. 1. In the year-ago period, Network Appliance posted a profit of $16.2 million, or 5 cents a share. Compared with the first quarter last year, the company's revenue jumped 26% to $260.5 million. On a pro forma basis, which excludes such costs as the amortization of intangible assets and stock-based compensation as well as investment gains and losses, Network Appliance would have earned $28.7 million, or 8 cents a share. Those results topped the company's guidance and Wall Street's projections. Polled by Thomson First Call, analysts were expecting Network Appliance to post pro forma earnings of 7 cents a share on $250.5 million in sales. The company previously had projected that it would earn 7 cents a share on $241.6 million to $253.7 million in revenue. The company did not immediately estimate its second quarter earnings.

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