Data warehouse and analytic appliances provider Netezza has reported revenues of $58.2m for the first quarter of fiscal 2011, an increase of 28% compared to $45.4m for the same period last year.
Revenue from products grew to $42.8m from $32.7m year-over-year, while services revenue grew to $15.3m from $12.6m for the same period last year.
Jim Baum, president and chief executive officer of Netezza, said: “Our revenue growth in the quarter demonstrates the widespread adoption of our TwinFin family of appliances. This, together with our recently introduced Skimmer and i-Class products, will continue to broaden our market reach and opportunity.”
The company’s operating income for the first quarter was $3.8m compared to operating loss of $0.7m in the same quarter a year ago.
For the first quarter ended April 30, 2010, the company posted a net income of $2.6m, compared to a net loss of $0.2m, for the same quarter last year.
Patrick Scannell, senior vice president and chief financial officer at Netezza, said: “Our first quarter was a great quarter and more importantly a positive indicator for our business as a whole.
“We saw our pipeline expand across the board with our visibility remaining strong. As a result, we are increasingly confident with our previously issued 20% annual revenue growth guidance and we expect year over year operating margin improvement.”
