Network Appliance Swings to 2Q Profit
Highlight of NetApp's quarter was the launch of its FAS900 series, accounting for 20 percent of the quarter's revenue.Network-attached storage specialist Network Appliance Inc. announced on Tuesday $15.8 million of profit for the second quarter of fiscal year 2003, with $215.2 million of revenue. Compared to last quarter, thats down from income of $16.2 million but up from revenue of $206.8 million. "We are encouraged by our growth during this quarter despite constrained IT spending," said Dan Warmenhoven, CEO of the Sunnyvale, Calif., company, in a conference call.
NetApps highlight for the quarter was the launch of its FAS900 series, which coincided with the launch of connectivity between NetApps NAS products with storage-area networks. The FAS900 series accounts for 20 percent of the quarters revenue, Warmenhoven said. However, he declined to answer questions about how many customers actually use the new SAN option. NetApp also launched InfiniBand options this quarter.