Netezza Q2 revenues up 45% to $64m

Posts operating income of $5m

Data warehouse and analytic appliances provider Netezza has reported revenues of $64m for the second quarter of fiscal 2011, an increase of 45% compared to $44m for the same period last year.

Revenue from products grew to $47.3m from $30m year-over-year, while services revenue grew to $16.5m from $14m for the same period last year.

The company's operating income for the second quarter was $5m compared to operating income of $0.4m in the same quarter a year ago.

For the second quarter ended 31 July 2010, the company posted a net income of $3.2m or $0.05 income per share, compared to a net income of $0.73m or $0.01 income per share, for the same quarter last year.

Netezza senior vice president and chief financial officer Patrick Scannell said that their performance in the first half of the fiscal year reflected strength in their business across all verticals, and they expect to see this continue.

"We are increasing our guidance for the full fiscal year to approximately 30% annual revenue growth, and we will continue to invest across the organisation during the second half of the year and expect operating margin improvement year over year," Scannell said.

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