March 3, 2010
Netezza Projects 20% Growth This Year
By Matthew L. Brown
Marlborough-based data storage and analysis firm Netezza Corp. said its fourth quarter profit fell to $2.8 million from $22.8 million a year ago as revenue increased 6 percent to $53.6 million.
The profit plunge was due to the company's receipt last year of a $20 million tax benefit thanks to the release of a valuation allowance on deferred tax assets, the company said.
For the year, Netezza reported a $4.2 million profit compared to $31.5 million the prior year on $190.6 million in revenue, a 2 percent increase from the $187.8 million reported a year ago.
The company said it expects 20 percent revenue growth this year.
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