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Network Engines Reports Q3

CANTON, Mass. -- Network Engines, Inc. (NASDAQ: NENG), a leading provider of storage and security server appliance products and services, today reported financial results for its fiscal third quarter ended June 30, 2007.

Third Quarter Financial Performance

  • Net revenues of $28.0 million in line with guidance of $27 million to $30 million, compared to $32.0 million in the fiscal third quarter of 2006.
  • Gross profit of 19.0 percent of net revenues in line with guidance of 18 to 19 percent compared to 16.8 percent in the fiscal third quarter of 2006.
  • Operating expenses of $5.4 million, including $560,000 of stock-based compensation expense, below guidance of $6.1 to $6.4 million. Operating expenses compared to $6.9 million, which included $716,000 of stock-based compensation in fiscal third quarter of 2006.
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