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Network Appliance tops 3Q
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February 12, 2002: 4:32 p.m. ET
Storage device maker sees profit, earnings fall but tops EPS forecast.
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NEW YORK (CNN/Money) - Network Appliance Inc. doubled Wall Street's earnings expectations for the data storage device company but still saw its profit, excluding special items, fall from year-earlier levels.
The Sunnyvale, Calif.-based company earned $15.5 million, or 4 cents a share, excluding special items and amortization of goodwill, for the fiscal third quarter which ended Jan. 25. That's better than the earnings per share forecast of 2 cents by analysts surveyed by earnings tracker First Call, but down from the $38.9 million, or 11 cents a share, earned a year earlier.
Including special items net income fell to $7.0 million, or 2 cents a share, compared with net income of $34.1 million, or 9 cents a share, a year earlier.
Revenue at the company fell to $198.3 million, in line with forecasts but down from $288.4 million a year earlier.
Shares of Network Appliance (NTAP: Research, Estimates) gained 30 cents to $16.75 in after-hours trading following the earnings release, following a loss of 86 cents in regular-hours trading before the release. 
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