NetApp, a provider of storage and data management offerings, has reported revenue of $1.14bn for the first quarter of fiscal year 2011, an increase of 36% as compared to $838m of the same period last year.
The company posted an operating income of $164.2m for the first quarter of fiscal 2011, an increase of 132% compared to an operating income of $70.8m of Q2 FY10.
For the first quarter of fiscal 2011, NetApp reported a net income of $141.8m or $0.38 diluted EPS, compared to net income of $51.7m or $0.15 diluted earnings per share of the same period in the prior year.
The company’s product revenue increased to $720.8m from $478.2m, software entitlements and maintenance revenue increased to $174.7m from $165.3m and services revenue rose to $242.3m.
NetApp expects revenue for the second quarter of fiscal year 2011 to be in the range of $1.16bn to $1.21bn and earnings per share to range between $0.35 to $0.38.
