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NetApp (NTAP) posted revenue for its fiscal fourth quarter ended April 24 of $880 million, down from $938 million a year ago, but above the Stret consensus at $856.5 million. Non-GAAP profits of 31 cents a share beat the Street at 23 cents.

Data Domain (DDUP), which makes “deduplication” storage systems, has leaped higher today despite Q1 revenues that were toward the bottom-end of the company’s guidance range.

For the quarter, DDUP yesteday posted revenue of $79 million, at the bottom of the projected range of $79 million to $84 million. But profits of 7 cents a share came in at the top of projected range of 5-7 cents.

For Q2, the company sees revenue of $82 million to $87 million, with profits of 5-7 cents a share; the Street has been looking for $84.7 million and 8 cents.

Data Domain (DDUP), provider of deduplication storage systems, posted Q4 revenue of $85.2 million and non-GAAP profits of 10 cents a share, well ahead of the Street consensus of $83.4 million and 4 cents.

But the stock is trading sharply lower on apparent disappointment with the company’s guidance.

For Q1, the company sees revenue of $79 million to $84 million, with non GAAP profits of 4-7 cents a share. The Street has been expecting $84.5 million and 4 cents. For the full year, the company sees revenue of $365 million to $385 million; the Street consensus had been $381.3 million.

Dell CFO Brian Gladden indicated in a story in the New York Times today that the company needs to diversify its revenue base, and could make acquisitions in several areas: servers and storage systems, software and services.

Certainly, the company has the capacity to make some significant purchases, with $8.5 billion in cash and short-term investments as of the end of October. So what might they buy?

Avi Cohen, managing director at Avian Securities, has some ideas about potential candidates, but sees plusses and minuses in each case. He outlined them in a brief research note:

Filed under: Earnings reports

With the global economy ailing, companies are scrambling to cut costs. But some companies continue to post hefty growth rates.

Just look at Data Domain (NASDAQ: DDUP), which develops next-generation storage systems. For Q3, the company saw its revenues spike 134% to $75 million (it was a 23% sequential growth rate). Net income was $3.2 million or $0.05 per share. Operating cash flow came to $22 million.

Then again, Data Domain continues to rack up customers, with 355 new accounts in Q3. In all, the company has more than 2,500 customers.