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Storage Networks Reiterates Forecast

Storage Networks Reiterates Forecast

Thursday Sep 6th 2001 by Bob Woods

Data-storage management services provider said it still expects to meet its 2001 revenue forecast of $120 million to $127 million; also expects to have positive gross margins in Q3

StorageNetworks Inc. , which provides data-storage management services, reiterated the company's revenue guidance in the range of $120 million to $127 million for 2001.

At an investor conference earlier this week, company President Peter Bell also confirmed that StorageNetworks will achieve gross margin profitability in the third quarter of 2001.

"StorageNetworks is on a clear and steady path to achieve our financial goals and reach our gross margin profitability metrics in line with our guidance," the company quoted Bell as saying. "Despite these challenging economic times, our enterprise customers and service providers, such as Ford, Merrill Lynch, Sun Microsystems, and Fujitsu, are responding positively to our storage management software which is delivered as a service across multiple vendor devices," said Bell.

According to Bell, "The bottom line is this: As enterprises migrate toward networked environments, customers need the storage management tools that will increase efficiencies, drive out costs, and significantly reduce the complexities inherent in any large storage IT environment. StorageNetworks is delivering those tools to over 200 customers today."

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