SOURCE: The Bedford Report

The Bedford Report

August 23, 2011 08:16 ET

New Products From Brocade and NetApp Gain Popularity

The Bedford Report Provides Equity Research on Brocade Communications & NetApp

NEW YORK, NY--(Marketwire - Aug 23, 2011) - Cloud storage is a model of storage where data is stored on multiple virtual servers, generally hosted by third parties. Driven by the growth of cloud computing, cloud storage is rapidly growing from a small percentage of the IT market to a significant opportunity. The Bedford Report examines the outlook for companies in the Computer Storage Devices Industry and provides stock research on Brocade Communications Systems, Inc. (NASDAQ: BRCD) and NetApp, Inc. (NASDAQ: NTAP). Access to the full company reports can be found at:

According to AMI Partners' report, US SMB Playbook, the surge of cloud computing is growing rapidly, with the market for hosted storage set to increase 11 per cent yearly until 2015. Cloud computing is highly appealing to today's organizations, not only because of its projected cost savings but also because of the cloud's flexibility.

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Brocade's "CloudPlex" cloud architecture is an open framework for building virtualized data centers that combines computing, storage and networking components into a single converged architecture, bringing the storage and IP networking vendor into the converged infrastructure market. The company said fiscal third quarter net income fell to $1.9 million, or breakeven on a per-share basis, in the three months ended July 30. That compares with net income of $22.5 million, or 5 cents a share, in the prior-year quarter.

According to NetApp, the company's virtualised storage management "OnCommand" simplifies cloud storage for end-user customers through a range of services, and is able to replicate the offering in several places. NetApp reported fiscal first quarter revenues of $1.46 billion, up 26.4% from $1.15 billion in the year-ago quarter.

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