Network Appliance (NTAP) - Get Report was down 4.9% in early trading after the data storage equipment maker said late Tuesday its results for the current first quarter would be flat sequentially.

The company posted fourth-quarter earnings of 2 cents a share, meeting analysts' lowered estimates and down from 7 cents a year ago.

Analysts are expecting first-quarter earnings of 3 cents a share, according to

Thomson Financial/First Call

.

Merrill Lynch

today cut its 2002 EPS estimate to 23 cents from 29 cents, while

Goldman Sachs

raised its 2002 earnings estimates to 18 cents a share from 15 cents.