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Slideshow Follow Reuters Facebook Twitter RSS YouTube Read Israel hammers Hamas in Gaza offensive | 14 Nov 2012 Hamas rocket kills three in Israel, wider war looms | 2:24am EST China's new party chief Xi gets strong mandate for action | 1:53am EST Petraeus mistress had substantial classified data on computer: sources | 14 Nov 2012 Special Report: How a vicious circle of self-interest sank a California city 13 Nov 2012 Discussed 170 Obama plans ”fiscal cliff” statement as showdown looms 146 Top Hamas commander killed in Israeli airstrike 114 Republicans say deal can be done on ”fiscal cliff” Sponsored Links NetApp profit beats; sees strong current quarter Tweet Share this Email Print Related News Time Warner sees U.S. advertising improving in fourth-quarter Wed, Nov 7 2012 Wall Street falls after tepid earnings and steady Fed Wed, Oct 24 2012 Facebook wins back friends on Wall Street, shares soar Wed, Oct 24 2012 Dow, S&P end flat; Yahoo gains after the bell Mon, Oct 22 2012 Texas Instruments forecasts revenue below estimates Mon, Oct 22 2012 Analysis & Opinion AOL: Down so long, itâ€™s starting to look up Apple results shrink iPad miniâ€™s relevance Related Topics Tech » Media » By Aurindom Mukherjee Wed Nov 14, 2012 7:18pm EST (Reuters) - Data storage equipment maker NetApp Inc's second-quarter adjusted profit beat analysts' expectations on higher service and maintenance revenue, and it forecast a strong current quarter, sending its shares up 12 percent in extended trading. The company, which competes with EMC Corp, Hewlett-Packard Co and IBM Corp in the storage equipment business, expects third-quarter adjusted profit of 53 cents to 58 cents on revenue of $1.58 billion to $1.68 billion, largely above expectations. NetApp has been struggling with falling sales as worsening conditions in Europe exacerbate competition in the server storage market. Chief Executive Tom Georgens on a conference call with analysts acknowledged a slowing demand due to the macro-economic conditions but said non-original equipment manufacturer sales are holding up well. FBN Securities analyst Shebly Seyrafi said the company was going to have a strong new product cycle, with its recently launched 3250 and 3220 platforms. The 3250 and 3220 are the new series of midrange storage platforms, which NetApp launched earlier this month. The company's profit for the quarter ended October 26, excluding one-time items, was 51 cents per share. Analysts had expected earnings of 48 cents per share, according to Thomson Reuters I/B/E/S. Revenue rose about 2 percent to $1.54 billion, in line with estimates. Software entitlements and maintenance sales were up about 11 percent at $219.4 million and services up about 11 percent at $326 million. NetApp shares were at $30.29 in extended trading. They closed at $27.12 on Wednesday on the Nasdaq. The company also expanded its share-repurchase program, with a fresh $1.5 billion boost. (Reporting By Aurindom Mukherjee & Neha Alawadhi in Bangalore; Editing by Sriraj Kalluvila, Maju Samuel) Tech Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. 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