Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: gingersreisse who wrote (7817)	4/12/2001 4:16:46 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 10934

Since the stock isn't down today, that means that no one (well, almost no one) was surprised yesterday. 4/12/01 CSFB report, excerpt: NTAP pre-announced revenue and EPS shortfalls for its fiscal Q4 ended April 30. It should record approximately 12% annual revenue growth and $0.01 EPS, missing our estimates of 60.5% annual revenue and $0.11 EPS by a considerable margin. The company attributed the 23% sequential revenue decline primarily to order delays resulting from a weaker macro environment. We believe that NTAP's shortfall was magnified because it is still disgorging itself of pure play dot com business, while at the same time suffering from delayed or halted web efforts by traditional enterprise customers. The company attributed the gross margin shortfall primarily to reduced volumes. We believe that intensified pricing in the mid-range NAS market might have contributed to our estimated decline of 230 basis points. We have reduced our revenue estimates to $1.00 billion for FY01 and $1.01 billion for FY02. Our EPS moves to $0.31 for FY01 and $0.18 for FY02. We maintain our Hold rating.