NetApp soars past $5bn sales mark

Storage vendor claims it is making record market share gains after 30 per cent growth last year

Storage giant NetApp has ended its 2011 financial year on a high, with full-year revenue up 30 per cent on last year.

The vendor posted a full-year GAAP net income of $673.1m (£413m), up from $400.4m the previous year, and revenue in excess of $5bn.

More than a third of the firm's full-year revenue was generated during its fourth quarter, where NetApp's turnover rose from $1.172bn in Q4 2010 to $1.428bn in 2011.

The company's Q4 GAAP net income also increased from $145.1m to $160.6m during the same period.

Tom Georgens, president and chief executive of NetApp, said the results coincide with the company making its biggest-ever market share gains.

"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," he explained.

"Enterprise customers increasingly choose NetApp as their vendor of choice for storage virtualisation and cloud deployments," he added.