Netezza reports 1Q profit as revenue jumps 28 percent; shares climb

Netezza reports 1Q profit as revenue jumps 28 pct

MARLBOROUGH, Mass. — Data storage company Netezza Corp. reported a fiscal first-quarter profit Tuesday on a 28 percent jump in revenue.

The results topped Wall Street forecasts and sent the company’s stock up 6 percent in extended trading.

Netezza said it earned $2.7 million, or 4 cents per share, in the three months that ended in April, compared with a loss of $200,000 a year earlier, which amounted to breaking even on a per-share basis.

Excluding a charge for stock-based compensation and other one-time items, the company earned 8 cents per share, while analysts surveyed by Thomson Reuters on average expected 5 cents per share.

Revenue jumped to $58.2 million from $45.4 million. Analysts expected $51.3 million.

Chief Financial Officer Patrick Scannell said in a statement that the company is now more confident of meeting its forecast for 20 percent revenue growth for its full fiscal year, which ends in January.

Netezza shares rose 84 cents, or 6 percent, to $14 in after-hours trading after closing down 6 cents in the regular session.