News

posted on 25 April 2008 10:46

De-duplicating storage array vendor Data Domain announced quarterly revenues 160 percent higher than a year ago for its first fiscal 2008 quarter.

Net revenue for its Q1 fy08 was $52.6 million, up from the Q1 fy07 amount of $32.875 million. Net income was $2.7 million ($0.04/share) versus a net loss of $1.5 million ($0.18/share) in the year-ago quarter.

Frank Slootman, Data Domain's president and CEO, said: "In the first quarter of 2008, Data Domain again achieved record revenues with strong gross margins. Approximately 285 new customers were added during the quarter, bringing our cumulative customer count to over 1,800 worldwide ... addition, with new solution platforms, expanded protocol support, and nearline application support, Data Domain is positioning deduplication storage as a new tier of data center storage for data that customers don't want on tape for performance reasons and don't want on primary storage for cost reasons. As our storage platform expands in scale and scope, we plan to further deepen and broaden this growing position in the data center."

CFO Michael Scarpelli said: "Data Domain has again exceeded its revenue targets for the quarter, while improving key financial metrics and continuing its investment in infrastructure to promote and accommodate future growth ... while the company added 92 new employees, gross margins were strong at 74 percent."

Data Domain is cementing its position as the number one de-duplicating storage array vendor.

^{[Paul Roberts, news editor.]}