NetApp sees strong sales

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Network Appliance (NetApp) reported Q2 fiscal year 2007 revenues of $652.5 million, an increase of 35 percent compared to revenues of $483.1 million for the same period in fiscal 2006. These numbers also represent an increase of 5 percent compared to $621.3 million in fiscal Q1. During Q2, the company’s GAAP net income was $86.9 million, compared to $70.7 million for the same period in the prior year. Non-GAAP net income for Q2 increased 38 percent to $108.9 million compared to $79.1 million for the same period a year ago. Also, revenues for the first six months of the current fiscal year totaled $1.27 billion, compared to revenues of $931.5 million for the first six months of the prior year, an increase of 37 percent year over year.

And for the first six months of fiscal 2007, the company’s GAAP net income increased 8 percent to $141.6 million, compared with $130.8 million for the same period in the prior year. Non-GAAP net income for the first six months totaled $205.4 million compared to non-GAAP net income of $141.3 million for the period in the previous year.