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De-Dupe Drives Data Domain Growth

Vendor raises guidance and outlines roadmap after strong Q2 results

Buoyed by strong sales of its inline de-dupe offerings, Data Domain reported solid Q2 revenues last night posted revenues of $61.2 million, a 131 percent increase on the prior year, above analyst estimates of $58.2 million.

Data Domains earnings were 3 cents per share on net income of $1.7 million, compared to a loss of 12 cents per share and a net loss of $1.2 million in the same period last year.

On a non-GAAP basis, the vendor reported earnings of 10 cents per share on net income of $6.5 million, up from 9 cents per share and $900,000 in the second quarter of 2007. Analysts had estimated earnings of 1 cent.

Data Domain also raised its 2008 revenue guidance to between $250 million and $255 million, from its initial range between $225 million and $235 million.

“New customer adoption of our technology is continuing at a record pace -- this time last year we reported that we had passed 1,000 customers; we’re now more than double that mark,” said Frank Slootman, the Data Domain CEO, during a conference call last night. “We noted particular strength in the eastern U.S. and the financial services vertical.”

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