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

To: H.A.M. who wrote (637)	2/18/1999 10:00:00 AM
From: H.A.M.	Read Replies (1) \| Respond to of 10934

Network Appliance's EPS Meets Views, Europe Sales Boost Rev Dow Jones Newswires February 18, 1999 This story originally appeared Wednesday. By Rick Jurgens PHOENIX (Dow Jones)--Network Appliance Inc. (NTAP) posted net income of 12 cents a share for the quarter that ended Jan. 29, in line with analysts expectations and up from 8 cents a year ago. A strong performance in Europe boosted the company's third-quarter revenue, which was $75.6 million, up from $44 million a year ago, Chief Executive Dan Warmenhoven told Dow Jones. About 33% of third-quarter sales were in Europe, up from 19% in the second quarter, he said. The Santa Clara, Calif., maker of network data storage devices sold about 800 units at an average price of about $70,000 during the quarter, Warmenhoven said. Gross profit margin was 59.2%, reflecting the value of the software in the company's products, which combine "lightweight hardware with sophisticated software," Warmenhoven said. Sales to Internet service providers and other Internet-related sales accounted for about 15% to 20% of total sales, he said. The company has about 660 employees, including about 300 in sales and marketing. Spending in that area equaled 26% of total revenue, he said. Net revenue for the company's third quarter was up 72% over a year ago. "The analysts expect us to continue growing at that rate," Warmenhoven said. "I'm only comfortable with history." Contracts to include Network Appliance products in systems sold by original equipment manufacturers Dell Computer Corp. (DELL) and, in Japan, Fujitsu Ltd. (J.FUT) won't begin contributing to revenue until the first quarter of Network Appliance's next fiscal year, Warmenhoven said. - Rick Jurgens; 602-258-2003; richard.jurgens@cor.dowjones.com

To: H.A.M. who wrote (637)	2/18/1999 10:35:00 AM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 10934

appreciate your posts. here's a bit more on the needham upgrade and another one from prudential. ----- Network Appliance Raised to 'Strong Buy' at Needham & Co. Princeton, New Jersey, Feb. 18 (Bloomberg Data) -- Network Appliance Inc. (NTAP US) was raised to ''strong buy'' from ''buy'' by analyst Glenn Hanus at Needham & Co. The 12-month target price is $59.00 per share. Network Appliance Reiterated 'Strong Buy' at Prudential Princeton, New Jersey, Feb. 18 (Bloomberg Data) -- Network Appliance Inc. (NTAP US) was reiterated ''strong buy'' by analyst Ellen Chae at Prudential Securities. The 12-month target price is $62.50 per share.