NetApp reports revenue uptick, slight income downturn for Q2

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Network Appliance, a networked storage services company, has reported an increase in revenues for the second quarter of fiscal year 2008.

Revenues for the second fiscal quarter were $792.2 million, an increase of 21 percent compared to revenues of $652.5 million for the same period a year ago.

For the second fiscal quarter, GAAP net income was $83.8 million, compared to GAAP net income of $86.9 million, for the same period in the prior year. 

Excluding amortization, stock-based compensation and other one-time gains and losses, the Sunnyvale, Calif.-based Network Appliance said it posted adjusted profit of $116.4 million for the second quarter of 2008, compared with adjusted profit of $108.9 million for the 2007 period.