NETWORK APPLIANCE CONTINUES HIGH GROWTH RATES.
Network Appliance Inc is continuing its impressively high growth rates, with second quarter revenues up 71% from the same period last year to $65.6m. Income was also up 71% from last year to $8.4m. At the start of the quarter, the Santa Clara, California- based company introduced its new F700 Filer NFS and CIFS network server product family, and says that it quickly built it up to account for over 50% of new business during the quarter. NetApp now has three market for its appliances: the database market, supporting Oracle Corp and, more recently, Sybase Inc; the Windows only market, bolstered after the quarter closed by two lucrative OEM agreements from Dell Computer Inc and Fujitu Ltd; and the web cacheing market, driven particularly by the European internet service providers, who are battling against high charges for bandwidth. "We still have strong growth opportunities," said NetApp CEO Dan Warmenhoven, "we are neither product or market constrained." In the US, he said, the web caching business is being driven by the adoption of fast networking technologies such as DSL or cable modems. The Windows-only market is set to take off in NetApp's next fiscal year, by which time both Dell and Fujitu will be ready to ship their own re-badged NetApp servers. NetApp says 60% of its business was fibre-channel-based.
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|Date:||Nov 18, 1998|
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