Network Appliance Meets Estimates, Sees Flat Revenue This Quarter

Updated from 4:38 p.m. ET

Network storage systems company Network Appliance (NTAP Quote) reported fiscal fourth-quarter results that were in line with Wall Street's drastically reduced expectations.

The Sunnyvale, Calif., maker of storage server appliances said after the regular session closed Tuesday that income excluding certain items totaled $7.9 million, or 2 cents a share, in the period ended April 28. That figure matched the expectations of analysts polled by Thomson Financial/First Call, but is 71% lower than the $24.9 million, or 7 cents a share, the company earned in the same period last year. Actual earnings were $500,000, allowing the company to break even on a per-share basis, compared with last year's $24.5 million, or 7 cents a share.

Revenue, meanwhile, came in at $225.8 million, beating the $219 million analysts were expecting and up from last year's $200 million. ...