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

To: kas1 who wrote (974)	5/18/1999 4:21:00 PM
From: Beltropolis Boy	Read Replies (1) \| Respond to of 10934

revenues up 80%!!! ----- Network Appliance Announces Revenues Up 80% in Fourth Quarter and 74% for Fiscal Year May 18, 1999 04:12 PM SANTA CLARA, Calif.--(BUSINESS WIRE)--May 18, 1999--Network Appliance, Inc. (NTAP), a provider of enterprise data management solutions, today reported revenues of $90.8 million for the fiscal fourth quarter ended April 30, 1999, an increase of 80% compared to revenues of $50.4 million for the same period of fiscal 1998. Overall, Network Appliance revenues for fiscal year 1999 were $289.4 million, an increase of 74% over fiscal year 1998 revenues of $166.2 million. Net income for the quarter increased 70% to $10.7 million or $0.13 per share, compared to net income of $6.3 million or $0.09 per share in the same period a year ago. Earnings per share for the quarter grew 55% from the same period a year ago. Net income for the fiscal year increased 70% to $35.6 million or $0.46 per share, compared to net income of $21 million or $0.29 per share in the prior fiscal year. Earnings per share for the fiscal year grew 57% from the prior fiscal year. Commenting on the results, President and Chief Executive Officer Dan Warmenhoven said, "We are pleased with the results of this past quarter and the fiscal year just ended. Our 74% revenue growth for the past year was geographically broad-based and driven by the company's increased investments across North America, Europe and Asia. On the product side, during the quarter we launched new enterprise software offerings with SnapMirror(tm) and SnapRestore(tm), both of which are based on NetApp(R) Snapshot(tm) technology, which facilitates the management of data for backup and disaster recovery applications." All earnings-per-share amounts represent diluted earnings per share as defined within Statement of Financial Accounting Standards No. 128. Earnings per share and the number of shares used in the per-share calculation of all periods presented reflect the two-for-one stock split that was effective December 21, 1998.