SOURCE: The Bedford Report

The Bedford Report

April 07, 2011 08:16 ET

Cloud Computing Revenues Surge for Companies in the Data Storage Sector

The Bedford Report provides Analyst Research on Brocade Communications and NetApp

NEW YORK, NY--(Marketwire - April 7, 2011) - Corporations are increasingly looking to cloud computing in order to accelerate value in business financials and reduce costs. Driven by the growth of cloud computing, cloud storage is quickly growing from a relatively small percentage of the overall IT market to a sustainable and significant opportunity. The Bedford Report examines the outlook for companies in the Data Storage Devices Industry and provides research reports on Brocade Communications Systems, Inc. (NASDAQ: BRCD) and NetApp, Inc. (NASDAQ: NTAP). Access to the full company reports can be found at:

The shift towards cloud computing has ramped up the demand for offsite data storage centers. The rapidly growing demand for data storage has predictably brought lots of competition as well. Larger storage companies have found acquisitions to be a viable way to deal with the uptick in competition.

Last month NetApp said it would acquire Engenio -- the storage-systems business of LSI Corporation -- for $480 million in cash. The Engenio business unit will be integrated into NetApp's business functions and will be responsible for product development.

The Bedford Report releases regular market updates on the Data Storage Devices Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

When Brocade Communications reported fiscal first quarter earnings, the company said clients were investing in data center networking to adopt "virtualization" and "cloud computing," increasingly popular technologies that allow companies to manage data more efficiently.

Going forward Brocade forecast second-quarter revenue of $545 million to $555 million, up between 9 and 11 percent from a year earlier.

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