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NetApp records 26 percent growth

NetApp records 26 percent growth

Storage and data management solutions provider NetApp's revenue for the first fiscal quarter of 2009 was US$869 million, an increase of 26 percent over the same period a year ago.

For the first fiscal quarter of 2009, generally accepted accounting principles (GAAP) net income was US$38 million, compared to GAAP net income of US$34 million, for the same period in the prior year. Non-GAAP net income for the first fiscal quarter of 2009 was US$76 million, compared to non-GAAP net income of US$76 million. NetApp creates innovative storage and data management solutions.

"Our new fiscal year got off to a good start, and our efforts to increase awareness and sales capacity in order to secure new customers are delivering results," said Dan Warmenhoven, chairman and chief executive officer. "Despite economic uncertainty, customers have continued to expand their storage infrastructure and are looking to NetApp to help them reduce costs and enable new capabilities."

Looking forward

NetApp estimates revenue for the second quarter of fiscal year 2009 to be between US$910 million and US$940 million.

In the first quarter of fiscal year 2009, NetApp launched new solutions to help customers transform their data center architectures. According to the company, this is done through higher efficiencies and asset utilization, greater power and space savings, innovative data management techniques, and the ability to reduce redundant data on primary storage with deduplication technology.


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