NetApp 2Q earnings zoom despite revenue decline
NetApp
Related Blog Posts
- Netapp and Fujitsu going after more business together
- NetApp replaces longtime CEO; shares tumble 4%
- NetApp chairman Dan Warmenhoven receives Silicon Valley leadership award
On The Web
Site Search
Get the latest news alerts: Follow LTW at Twitter
Local Tech Wire
SUNNYVALE, Calif. — Data-storage vendor NetApp (NASDAQ: NTAP) reported decreased second-quarter revenues Wednesday, but income per share more than doubled from the year before.
In results issued after the market closed, NetApp, which has a corporate presence in Cary, N.C., said net income in the quarter that ended Oct. 30 was 27 cents per share, compared with 13 cents in the same period last year.
Unadjusted income also climbed, from 28 to 37 cents per share, the company said. Analysts had predicted unadjusted per-share income of 30 cents.
NetApp shares climbed to $30.40 in after-hours trading after closing at $29.62
Net income was $96 million compared with $43 million last year.
Overall revenues were down slightly, from $912 million to $910 million. Revenues for the first six months of the fiscal year were down 2 percent, NetApp reported.
The company said it expected more good news in the current quarter. It predicted third-quarter adjusted revenue of 24 to 25 cents per share, based on about 5 million more shares being outstanding.
"NetApp delivered a strong quarter with record gross margins, record revenue from our SAN products, and overall revenue that exceeded our expectations," said Tom Georgens, president and chief executive officer.
"Our value proposition resonates particularly well with customers who look to gain efficiency and streamline operations as they begin to build out their next-generation virtualized data centers. Driven by this demand, NetApp is forecasting record revenues for our next fiscal quarter."
Featured
Hot Off The Wire
- Hot Off the Wire – Google phone now runs on AT&T network; Microsoft told to pay $106M in patent dispute; Bing gains market share
- Hot Off the Wire – Maryland firm BroadSoft files for IPO; Twitter preps China page; John Grisham’s Firm, other titles now e-books
- Hot Off the Wire – Apple charges $107 for iPad batteries; Amazon drops Colorado affiliates like it did in N.C.; Facebook expands in India
E-mail Preferences
The Skinny
- N.C. fund is good news for state's tech entrepreneurs
- Another 202 layoffs at IBM push latest count above 2,900
- ‘Social media is a beast’ – So how can your business tame it?
- In tough climate, GSK dedicates plant to fight elephantiasis
- ‘Who’s Cisco?’ New RTP site exec recalls a humble birth
- Google, N.C.? UNC-CH, Carrboro, Chapel Hill want Google Net
- Tweet this from Epic: Three more hints about Gears 3
- ‘The Daily Me’: You want your news mobile, instantly from several sources
- ‘Gears 3’ rumors grow louder – Epic president dropping hints
- Intel-ligent boost for tech – Intel, VCs launch investment alliance