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

To: Jacob Snyder who wrote (10169)	5/15/2002 4:59:31 PM
From: Cooters	Read Replies (1) \| Respond to of 10934

DJ Network Appliance CEO Calls Outlook 'Conservative' Dow Jones News Service ~ May 15, 2002 ~ 3:52 pm EST NEW YORK (Dow Jones)--Network Appliance Inc. (NTAP) Chief Executive Dan Warmenhoven, in an interview on CNBC Wednesday, called the company's first quarter outlook "conservative." "The issue in the first quarter is strictly seasonality," Warmenhoven told CNBC, explaining that it is difficult to close deals during the quarter - which ends in July - because many customers start vacations then. Also, revenue is generally lower sequentially because of the big sales push at the end of the fiscal year. The Santa Clara, Calif. data server maker expects fiscal first quarter revenue of between $205 million and $215 million, whereas Wall Street was anticipating revenue of $217 million. The chief executive emphasized that year-end revenue estimates remain in the $ 915 million range and that growth rates are still seen at about 20% year-over- year. Late Tuesday, Network Appliance reported fiscal fourth quarter net income of $ 14.6 million, or 4 cents a share, on revenue of $204.9 million - all in line with estimates. Warmenhoven said he believes the bottom in tech spending has been reached and that he senses more confidence in the marketplace this year compared with last year. -Ellen Sheng; Dow Jones Newswires; 201-938-5176; ellen.sheng@dowjones.com (END) DOW JONES NEWS 05-15-02 03:52 PM