| 'Disappointing' NetApp adds to buyback plan |
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| by Stephen Withers | |
| Thursday, 16 August 2007 | |
  
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The company's first quarter results for fiscal 2008 showed revenue of $US689.2 million, up 11 percent on the year-ago quarter, but down 14 sequentially. Earnings per share were $US0.09, compared with $US0.14 in the year-ago quarter. "We are clearly disappointed with our revenue growth this quarter, yet confident about our underlying business strength and continued health," said CEO Dan Warmenhoven. "Our bookings growth and cash flow are both very encouraging, and we are optimistic about getting back on track for higher growth in revenue and profits going forward." For the second quarter, the company predicts year-on-year revenue growth of 15 to 18 percent, and sequential growth of 9 to 11 percent. |
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