NetApp shows off 30 per cent revenue rise


NetApp today reported a huge jump in revenues for the close of fiscal year 2011.

Whilst 2010 saw $3.9 billion (2.4 billion) recorded, achievements in 2011 have super-sized this figure to over $5.1 billion, along with a net income of $673.1 million.

It wasn't just the overall year that made its rivals sweat, but quarterly figures helped NetApp put its stamp on the market too.

For the fourth quarter, the company brought in just under $1.43 billion, up from $1.17 billion for the same period last year, whilst net income rose to $160.6 million, an increase of over $15 million from 2010.

"We achieved the largest market share gains in our history and closed a record number of million dollar deals, demonstrating our momentum in the market as enterprise customers increasingly choose NetApp as their vendor of choice for storage virtualisation and cloud deployments," said Tom Georgens, president and chief executive (CEO) of NetApp.

Things can only get better though, according to the company's predictions, as it expects $1.5 billion in revenues for the first quarter of fiscal 2012.