continued storage players' solid December quarter earnings results.
The enterprise storage company recorded $198.3 million in revenue and 2 cents a share in earnings in the third quarter of its fiscal year 2002, according to generally accepted accounting principles.
Excluding charges taken to cover a diverse range of items from in-process R&D to stock compensation and equity investments, the company turned in a pro forma profit of 4 cents a share. The analysts consensus called for $198.9 million in revenue and 2 cents a share in pro forma profit, according to Multex.com.
December was kinder than expected around the storage arena, as
performed admirably against Wall Street's depressed expectations. Network Appliance enlisted IBM Global Services as a partner early in 2001, and during the fiscal third quarter the partners released products for the
SQL server platform and widened their outreach to
Nonetheless, Network Appliance's revenue represented a 31% decrease from the third quarter of fiscal 2001's $288.4 million in revenue. In that quarter, Network Appliance converted its revenue into an 11 cents a share profit, before a dramatic falloff in the spring of 2001. The company's revenue increased 2% from a difficult second quarter of fiscal 2002 and it highlighted eight large-scale corporate deployments in the December quarter, despite the long-standing clampdown in corporate spending on information technology.