Data storage equipment maker Network Appliance
Last month, rival EMC
Network Appliance is in good shape, seeing sales gains across its product lines. The company has added $103 million in cash to its balance sheet since the beginning of the fiscal year, finishing the quarter with $722 million in cash and no debt. But at about 55 times this year's earnings, Network Appliance shares don't look particularly attractive.
For the third quarter, the company expects sequential revenue growth of 3% to 7%, and EPS between $0.10 and $0.11.
In all, it was a solid report, but apparently that wasn't enough. Network Appliance shares, which have more than doubled over the past year, fell $2.09 from yesterday's close to $21.34.
Talk about data storage on the Network Appliance discussion board -- only at Fool.com. Jeff Hwang can be reached at JHwang@fool.com.