Network Appliance Rides Storage Boom - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
News

Network Appliance Rides Storage Boom

Underscoring the strength of the network-attached storage market, Network Appliance Inc. yesterday reported sharply higher profits and sales. For the second quarter, which ended Oct. 29, the company posted revenue of $124.7 million, an increase of 90% over the $65.6 million in revenue it reported for the same period last year. Earnings for the quarter nearly doubled to $16 million from $8.4 million in the year-ago quarter.

For the first two quarters of this fiscal year, the company reported revenue of $228 million, an increase of 85% over revenue of $123 million for the first six months of the prior fiscal year. Earnings for the period were up 91% to $29.5 million, compared with $15.5 million the first half of last year.

Dan Warmenhoven, Network Appliance president and CEO, used the good quarterly news to unveil a stock split that will go out to shareholders next month. The split will result in approximately 149,300,000 shares of its common stock outstanding. Warmenhoven credited increased Internet activity with generating strong demand for storage appliances and Web caching, including intelligent software products.

One of the leading vendors in the growing network-attached storage market, Network Appliance's devices attach anywhere on a network, and don't require a direct connection to servers. They are easy to install and administer, making them popular with customers that don't have the expertise to set up complex systems, or the resources to maintain them. Increasingly, thanks to the intelligent software that Network Appliance provides, the devices are being used to consolidate file access for both NT and Unix servers.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
State of the Cloud
State of the Cloud
Cloud has drastically changed how IT organizations consume and deploy services in the digital age. This research report will delve into public, private and hybrid cloud adoption trends, with a special focus on infrastructure as a service and its role in the enterprise. Find out the challenges organizations are experiencing, and the technologies and strategies they are using to manage and mitigate those challenges today.
Commentary
Enterprise Guide to Edge Computing
Cathleen Gagne, Managing Editor, InformationWeek,  10/15/2019
News
Rethinking IT: Tech Investments that Drive Business Growth
Jessica Davis, Senior Editor, Enterprise Apps,  10/3/2019
Slideshows
IT Careers: 12 Job Skills in Demand for 2020
Cynthia Harvey, Freelance Journalist, InformationWeek,  10/1/2019
Register for InformationWeek Newsletters
Video
Current Issue
Getting Started With Emerging Technologies
Looking to help your enterprise IT team ease the stress of putting new/emerging technologies such as AI, machine learning and IoT to work for their organizations? There are a few ways to get off on the right foot. In this report we share some expert advice on how to approach some of these seemingly daunting tech challenges.
White Papers
Slideshows
Twitter Feed
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.
Sponsored Video
Flash Poll