Aktie steigt nachbörslich um knapp 9 %.
UPDATE - Network Appliance says quarterly profit doubled
Tuesday February 17, 6:13 pm ET
Sunnyvale, California-based Network Appliance gave a strong outlook for fourth-quarter revenue that beat analyst expectations, and its shares rose about 7 percent in after-hours trading.
Demand for technology increased among large corporations during the most recent quarter, Chief Financial Officer Steve Gomo told Reuters.
"We've seen large customers take an interest once again in large projects," Gomo said.
Network Appliance reported net income for the third quarter ended Jan. 30 of $40.2 million, or 11 cents per share, up from $19.7 million, or 6 cents per share a year earlier.
Revenue rose about 30 percent to $297.3 million from $228.5 million.
The weaker dollar, which make U.S. goods cheaper overseas, contributed about 5 percentage points of the rise, Gomo said.
Analysts expected the earnings of 10 cents per share, within a range of 9 cents to 11 cents, on revenue of $290.6 million, within a range of $288 million to $295 million, according to Reuters Research, a unit of Reuters Group PLC.
Network Appliance said it sees revenue in the fourth quarter ending in April growing 7 to 9 percent from the third quarter, or to a range of $318 million to $323 million. Analysts were expecting fourth-quarter revenue of $304 million, according to Reuters Research.
Network Appliance sees adjusted earnings of 11 cents to 12 cents per share, which excludes costs associated with its acquisition of software company Spinnaker Networks Inc., due to close on Wednesday.
Network Appliance's stock closed at $22.27, up 2.6 percent, or 57 cents, on Nasdaq. It was trading in after-hours activity at $23.77, up 7 percent
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