NetApp revenue grows 36% in Q1

18.08.2010
Data storage vendor NetApp reported today on its revenue for the first quarter of 2011, stating total product sales grew 51% when compared with the same quarter last year; and overall revenue was up 36%.

The Sunnyvale, Calif.-based company reported $1.14 billion in sales in the quarter, which ended July 30, compared with $838 million during the same period last year. Net income for the quarter was almost triple last year's first quarter. The company reported $142 million compared with $52 million for Q1 2010.

"Our results indicate we are achieving clear customer preference as IT organizations transform their data centers," NetApp CEO Tom Georgens said in a statement.

NetApp's stock price closed at $39.32 a share on the Nasdaq stock market today, up $.67 cents, or 1.73%.

NetApp credited much of its growth to and other partners to offer a greater breadth of public and private offerings.

NetApp's three-year agreement with focuses on collaboration on virtualized infrastructure technology based on Windows Server 2008 R2, Microsoft Hyper-V Server 2008 R2, Microsoft System Center and NetApp storage systems.