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March 4, 2010

Netezza Q4 revenues up 6% to $53.6m

Expects to achieve 20% revenue growth in FY2011 over FY2010

By CBR Staff Writer

Data warehouse and analytic appliances provider Netezza has reported revenues of $53.6m for the fourth quarter of fiscal 2010, an increase of 6% compared to $50.6m for the same period last year.

The company’s operating income for the quarter was $2.8m compared to $4.26m in the same period last year.

For the fourth quarter ended January 31, 2010, the company posted net income of $2.8m, or $0.04 per diluted share, compared to a net income of $22.8m, or $0.37 per diluted share for the same period last year.

For the full fiscal year 2010, the company has reported revenues of $190.6m compared to $187.7m in fiscal 2009. Operating income was $3.65m compared to $12.6m last year. Net income was $4.2m, or $0.07 per diluted share, compared to $31.52m, or $0.50 per diluted share last year.

Jim Baum, CEO of Netezza, said: “Our continuing innovation with the release of our TwinFin platform mid-year and, more recently the announcement of our TwinFin i-Class appliance, position us well competitively to benefit from the continuing growth of the data warehousing and analytics market.”

Patrick Scannell, SVP and chief financial officer of Netezza, said: “Our visibility has improved in recent quarters and we are therefore resuming our practice of providing annual financial guidance. We currently expect we will achieve 20% revenue growth in our fiscal year 2011 over fiscal year 2010. In fiscal year 2011, we will continue to invest in our business and we expect operating margin improvement to accelerate in the second half of the year.”

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