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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: chaz who wrote (4942)	8/18/1999 5:06:00 PM
From: DownSouth	Read Replies (2) \| Respond to of 54805

News from one of the Kings: Network Appliance Announces Revenues Up 80%; Net Income Up 90% in First Fiscal Quarter Sunnyvale, CA - August 18, 1999 -- Network Appliance, Inc. (NASDAQ: NTAP), the leading provider of network-attached data access and management solutions, today reported revenues of $103.3 million for the first fiscal quarter ended July 30, 1999, an increase of 80% compared to revenues of $57.4 million for the same period a year ago. Net income for the quarter increased 90% to $13.5 million, or $0.16 per share, compared to net income of $7.1 million, or $0.10 per share, for the same period a year ago. Revenues increased on a sequential basis by 14% over the $90.8 million reported in the fourth quarter of fiscal 1999 and net income was up 25% from the $10.7 million reported in the fourth quarter of fiscal 1999. Commenting on the quarter, President and Chief Executive Officer Dan Warmenhoven said, "During the quarter, Internet and enterprise companies accelerated their deployment of data infrastructures incorporating Network Appliance™ products. The explosion of data has generated strong demand for storage architectures that can solve the business problems of managing network accessible data. As the market leader in network attached storage, Network Appliance is focused on providing products that deliver on our reliable, fast and simple appliance philosophy."