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Data Domain Reports Q2

Data Domain, Inc. reports second-quarter financial results

SANTA CLARA, Calif. -- Data Domain, Inc. (Nasdaq: DDUP) today announced results for its second quarter ended June 30, 2008. Net revenue for the second quarter of 2008 was $61.2 million, an increase of 16% from the first quarter of 2008 and an increase of 131% from the second quarter of 2007.

Under U.S. generally accepted accounting principles (GAAP”), Data Domain posted a net income of $1.7 million for the second quarter of 2008, or $0.03 per diluted share. This compares to GAAP net income of $2.7 million, or $0.04 per diluted share in the immediately preceding first quarter of 2008, and a GAAP net loss of $1.2 million, or $0.12 per diluted share in the second quarter of 2007.

Excluding the impact of stock-based compensation and related taxes in all periods, the non-GAAP net income for the second quarter of 2008 was $6.5 million, or $0.10 per diluted share, compared to non-GAAP net income of $7.7 million, or $0.11 per diluted share in the immediately preceding first quarter of 2008, and non-GAAP net income of $0.9 million, or $0.09 per diluted share in the second quarter of 2007.

"Our results for the second quarter of 2008 included record revenues, strong gross margins and significant growth in our customer base, which has more than doubled in the past year," said Frank Slootman, president and chief executive officer of Data Domain. “Approximately 340 new customers were added during this past quarter, bringing Data Domain’s cumulative customer count to over 2,100 worldwide.

Data Domain Inc.

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