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Network Appliance Takes Rest Near High.(B)(NASDAQ STOCKS IN THE NEWS)
Byline: Craig Shaw
Network Appliance climbed within 5% of its November 2003 52-week high on Oct. 4. Since then the stock has drifted downward on quiet volume. It hasn't posted an up week on above-average trade since mid-August, a possible trouble sign.
The network storage system vendor has lifted earnings by double or triple digits for 10 straight quarters. Annual profit grew every year from 1995 to 2001, took a dip in 2002 but is back on the rise with 43% and 23% growth seen the next two years. After-tax profit margin of 13.9% last quarter marked a three-year high.
Network's Computer-Data Storage group ranked just ...
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