NetApp sees revenue growth in a busy year

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Network Appliance Inc. (NetApp) has seen revenue growth this fiscal year compared to both last year and also the previous quarter. Revenues for the company in second fiscal quarter were $483.1 million, an increase of 29 percent compared to revenues of $375.2 million for the same period in 2005. NetApp also saw an increase of 8 percent compared to $448.4 million in the prior quarter.

GAAP net income for the second quarter was $70.7 million compared to GAAP net income of $55.3 million for the same period in the prior year. Non-GAAP2 net income for the second fiscal quarter was $79.1 million compared to non-GAAP net income of $58.4 million for the same period a year ago.

Revenues for the first six months of the current fiscal year totaled $931.5 million, compared to revenues of $733.6 million for the first six months of the prior fiscal year, an increase of 27 percent year over year.

For the first six months of the current fiscal year, GAAP net income increased 28 percent to $130.8 million compared with GAAP net income of $102.2 million for the same period in the prior year. Non-GAAP net income for the first six months of the current fiscal year totaled $141.3 million, compared to non-GAAP net income of $108.2 million, for the first six months of the prior fiscal year, NetApp said.
   
Business activities for NetApp so far this fiscal year include the completion of its Decru acquisition; demonstration of growth in iSCSI, NAS, and SAN; and expanded operations in Research Triangle Park, N.C.