topped Wall Street's expectations for its second-quarter earnings and revenue late Wednesday.
The company said it posted a profit of $86.9 million, or 22 cents a share, vs. $70.7 million, or 18 cents a share, in the same period a year ago.
Excluding some items, the enterprise storage and data-management firm earned $108.9 million, or 28 cents a share, growing from $79.1 million, or 21 cents a share for the comparable quarter in 2005. On that basis, the company beat analysts' estimates of 25 cents a share.
On the top line, Network Appliance reported $652.5 million, rising from $483.1 million in the same quarter last year, which also beat the consensus forecast of $646.7 million.
Looking ahead, the Sunnyvale, Calif.-based company said it would earn between 17 cents and 18 cents a share for the third quarter, while pro forma earnings will be about 28 cents a share. Analysts polled by Thomson First Call peg the company for an EPS of 27 cents.
Network Appliance forecast sales between $698.2 million and $704.7 million, while analysts anticipated revenue of $699.1 million for the current quarter.
For the full year, the company expects an EPS between 73 cents and 76 cents a share, and pro forma EPS of $1.10 to $1.11. Revenue should grow between 33% and 34% to between $2.75 billion and $2.77 billion, higher than the current analyst forecast of $2.73 billion.
Analysts forecast an EPS of $1.06 on sales of $2.73 billion.
Separately, the company said its board had approved a new stock-repurchase program for up to $800 million, in addition to the $41 million remaining from earlier authorizations.
Shares of Network Appliance rose 39 cents to $38.39 in late trading.