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March 9, 2009

Netezza Q4 net income up

Revenue up 28%

By CBR Staff Writer

Netezza Corporation, a provider of data warehouse appliances, has reported that GAAP net income was $22.8m, or $0.37 per diluted share, for the fourth quarter ended January 31, 2009, compared to $3.4m, or $0.05 per diluted share, for the same period in fiscal 2008.

Total revenue for the fourth quarter of fiscal 2009 increased 28% to $50.6m, compared with $39.5m for the same period in fiscal 2008.

GAAP net income attributable to common stockholders for the full fiscal year 2009 was $31.5m, or $0.50 per diluted share, compared with a GAAP net loss attributable to common stockholders of $0.9m, or $0.03 per diluted share, for fiscal year 2008. Total revenue for the full fiscal year 2009 increased 48% to $187.8m, compared with $126.7m for fiscal year 2008.

Patrick Scannell, senior vice president and CFO of Netezza, said: We are very pleased with our fourth quarter and year-end results. We have strengthened our business on multiple fronts over the course of this past year. We are very well positioned competitively and we continue to gain market share. During the year we added 88 new customers, and have built a maintenance revenue stream in excess of $44 million annually, with 99% of our customers on that program.

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