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Technology Stocks : Network Appliance -- Ignore unavailable to you. Want to Upgrade?

To: Dr. Id who wrote (2407)	2/15/2000 4:19:00 PM
From: professor	Read Replies (1) \| Respond to of 10934

This just hit reuters. NETWORK APPLIANCE <NTAP.O> SAYS SETS TWO-FOR-ONE STOCK SPLIT

To: Dr. Id who wrote (2407)	2/15/2000 4:22:00 PM
From: HDC	Read Replies (3) \| Respond to of 10934

Here it is!!!!!!!! Network Appliance Announces Third Quarter Revenues of $151.3 Million; Up 100%; Company Announces 2 for 1 Stock Split Sunnyvale, CA - February 15, 2000 -- Network Appliance, Inc. (NASDAQ: NTAP) today reported revenues of $151.3 million for the fiscal third quarter ended January 28, 2000, an increase of 100% compared to revenues of $75.6 million for the same period last year. Net income for the quarter increased 111% to $19.8 million, or $0.11 per share, compared to net income of $9.4 million, or $0.06 per share for the same period a year ago. Earnings per share for the quarter increased 90% from the same period a year ago. Revenues for the first nine months of the current fiscal year totaled $379.3 million, an increase of 91% compared to revenue of $198.6 million for the first nine months of the prior fiscal year. For the first nine months of the current fiscal year, net income increased 98% to $49.3 million, or $0.29 per share, compared to net income of $24.9 million, or $0.16 per share for the first nine months of the prior fiscal year. Earnings per share for the first nine months increased 79% from the first nine months of the prior fiscal year. "NetApp's business growth accelerated worldwide and was primarily driven by the strength of e-business infrastructure deployments, which now represent over one-third of our business," said Dan Warmenhoven, president and CEO of Network Appliance. "As the amount of data stored on the Internet and by Global 2000 corporations continues to explode, NetApp© products and technology are becoming one of the most important infrastructure investments today. We are helping our customers solve the critical problems of managing and accessing large amounts of data." The Company also announced a two-for-one stock split of the Company's common stock to be distributed on or about March 22, 2000 to holders of record on March 10, 2000. After the split, the Company will have approximately 304,600,000 shares of its common stock outstanding based on shares outstanding at January 28, 2000. In December, Network Appliance's financial growth was highlighted with our addition to the NASDAQ 100 Index, and Fortune Magazine featured NetApp among the Internet elite in Fortune's E-50 index of leading Internet companies. During the third quarter, NetApp continued to grow its NetCache? business, with major customer wins at General Motors, Merrill Lynch and 3Com's Palm Computing Division. Several product and technology milestones were also completed during the quarter, including the announcement of NetCache 4.1, the industry's first streaming media appliance for Apple© QuickTime?, Microsoft© Windows Media? and RealNetworks© RealSystem? G2 users. NetApp established an alliance with leading storage companies to demonstrate the first multi-vendor network-attached storage and storage area network (NAS and SAN) tape backup solution for NAS filers. NetApp also formed agreements with both Legato and Veritas to provide fully integrated and qualified, high availability, application failover solutions for Network Appliance? storage appliances.