Auspex Reports Fourth Quarter Results

Auspex Systems, Inc., a Network Attached Storage provider, today reported results for its fourth fiscal quarter 2001 ended June 30, 2001.

According to the company, revenues for the fourth quarter ended June 30, 2001 were $10.0 million, a 7% increase over $ 9.4 million in the prior quarter, ended March 31, 2001. Fourth quarter product revenue increased $1.0 million, or 28%, over third quarter product revenues. The net loss for the fourth quarter was $14.0 million, or $ .31 per share compared with a net loss of $14.1 million, or $.31 per share in the prior quarter, an improvement of 1%. Auspex reported revenues of $51.9 million for the fiscal year ended June 30, 2001 and a net loss of $44.3 million or $1.18 per share.

“This quarter we have successfully transitioned to our new NS3000 family of products which was launched in late May,” said Gary J. Sbona, Chairman and Chief Executive Officer. “The product, which has industry leading performance, has been well received by our beta customers and early adopters,” said Sbona. “While we continue to build pipeline and backlog and expect revenue growth quarter over future quarter, the current worldwide market and economic conditions makes it very difficult and imprudent to project results with any accuracy at this particular time,” he added.