Netapp Profits Up

February 20th, 2006: Netapp sees it profits surge with third quarter results showing storage to be healthier than ever.

Declaring a 30% rise in Q3 profits for US fiscal year 2006, Netapp is clearly indicating that storage vendors are firmly in the driving seat for ICT investment. In terms of cold hard cash, the company was able to put US$537 million on the books against US$412.7 million for the same period last year.

>With EMC stating US$2.7 billion in revenues for the last financial year (albeit with a drop in profits) and Seagate announcing that it had sold 60% more physical megabytes of storage than 2004, it has to be said that storage is going from strength to strength.

The amounts of money being pumped into the coffers of storage vendors, by all areas from enterprise to the general public derives, is driven by several factors from the rise of the iPod via the fall of ENRON with all the compliance issues that this has put in train.

Related Article:
Seagate Boasts Record Profits