Here's a shocker. ADI and NTAP missing, it's been a strange Q2.
Network Appliance Announces Preliminary First Quarter Fiscal Year 2006 Results
Thursday August 4, 4:16 pm ET
SUNNYVALE, Calif.--(BUSINESS WIRE)--Aug. 4, 2005--Network Appliance, Inc. (Nasdaq:NTAP - News), the leader in advanced networked storage solutions, today announced preliminary results for the fiscal year 2006 first quarter ending July 29, 2005. Revenues are expected to be in the range of $446 to $449 million, down approximately 1% sequentially from the fourth quarter of FY2005, and up 24% to 25% over the first quarter of FY2005. GAAP and non-GAAP(1) net income per share are expected to be in the range of $0.15 to $0.16.
These preliminary results are below the company's previously stated targets issued on May 24, 2005 for a sequential revenue increase of 3% to 6% which equates to approximately $465 to $479 million, for GAAP net income per share of $0.16 and $0.17, and non-GAAP net income per share of $0.17 to $0.18. Network Appliance will announce final results on August 17, 2005 after the close of market.
"The primary factor impacting our results this quarter was a product transition to our new midrange FAS3000 series. The market response to the new product line has been very positive, however the take up rates were more back-end loaded than we had planned," said Dan Warmenhoven, CEO of Network Appliance. "We remain confident in the competitiveness of our products and in our ability to grow our business over the long term." |
