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Network Appliance

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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

December was kinder than expected around the storage arena, as





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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.