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Growth in business offsets major account dips at NetApp

Simon Quicke

A growth in fresh business helped storage player NetApp offset an unexpected decline in some of its major accounts as it unveiled its numbers for its second fiscal quarter.

Revenue for the three months ended 28 October increased to $1.5bn compared to $1.25bn in the same period a year ago but on the GAAP net income front there was a drop to $165.5m compared to to $175.4m.

The vendor pointed to a recovery in the health of the storage and data management market boasting of the highest number of new customer wins for more than two and a half years but there was a fly in the ointment in the behaviour of some of its established accounts.

"In aggregate, we saw strong revenue growth across most areas of our business, offset by some unexpected weakness in a handful of our largest accounts," said Tom Georgens, president and CEO of NetApp.

That weakness in large accounts led to a scaling back on the forecasts for its third fiscal quarter.




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