NetApp revenues surge 38 percent in 1Q FY05
Network Appliance Inc. came out of the gates galloping, reporting its revenues for the first quarter of FY05 to be $358.4 million - an increase of 38 percent compared with revenues of $260.5 million in the year-ago quarter.
In the first fiscal quarter of FY05, the company reported GAAP net income increased 73 percent to $46.9 million, compared with GAAP net income of $27.1 million in the year-ago quarter. Pro forma net income for the first fiscal quarter increased 73 percent to $49.9 million, compared with pro forma net income of $28.7 million in the year-ago quarter.
According to NetApp, the increase in revenue was due to deployment of new tier-one storage systems, expanded partnerships and enhancements to its storage grid architecture. Customers deploying NetApp during the quarter for a variety of database, collaborative and other data center and mission critical applications included Catholic Healthcare West and GE Healthcare.
On the partners front, NetApp unveiled several new system enhancements and partner offerings with McData, Ontrack Data Recovery, Oracle, Secure Computing, Symantec, Trend Micro and Veritas to address a variety of data concerns, including e-mail recovery, unified storage and security issues facing enterprise customers.
NetApp also recently debuted its new midrange unified storage models, the FAS920 and FAS920c. Designed to provide affordable enterprise-class performance, reliability and advanced data management features for midrange applications, the FAS920 can power in Fibre Channel and iSCSI SANs and networked attached storage (NAS) simultaneously.
In the first fiscal quarter of FY05, the company reported GAAP net income increased 73 percent to $46.9 million, compared with GAAP net income of $27.1 million in the year-ago quarter. Pro forma net income for the first fiscal quarter increased 73 percent to $49.9 million, compared with pro forma net income of $28.7 million in the year-ago quarter.
According to NetApp, the increase in revenue was due to deployment of new tier-one storage systems, expanded partnerships and enhancements to its storage grid architecture. Customers deploying NetApp during the quarter for a variety of database, collaborative and other data center and mission critical applications included Catholic Healthcare West and GE Healthcare.
On the partners front, NetApp unveiled several new system enhancements and partner offerings with McData, Ontrack Data Recovery, Oracle, Secure Computing, Symantec, Trend Micro and Veritas to address a variety of data concerns, including e-mail recovery, unified storage and security issues facing enterprise customers.
NetApp also recently debuted its new midrange unified storage models, the FAS920 and FAS920c. Designed to provide affordable enterprise-class performance, reliability and advanced data management features for midrange applications, the FAS920 can power in Fibre Channel and iSCSI SANs and networked attached storage (NAS) simultaneously.