May 26, 2010
Netezza Posts Stronger Q1
By Matthew L. Brown
Marlborough-based data storage hardware developer Netezza Corp. swung to a $2.7 million profit in the first quarter from a $237,000 loss during the same period a year ago.
Revenue increased to $58.2 million from $45.4 million a year earlier.
The company spent more on sales and marketing, research and development and administration than it did a year ago and its operating income increased to $3.9 million from a $724,000 operating loss.
The company ended the quarter with $32.2 million in cash and equivalents compared to $40.6 million.
The quarter is a positive indicator for the year, the company said. It expects revenue growth of about 20 percent over 2009.
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