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August 17, 2012

NetApp reports decline in Q1 revenue

Net income was $63.8m

By CBR Staff Writer

NetApp, a provider of storage and data management offerings, has reported revenue of $1.44bn for the first quarter of 2013, compared to $1.45bn of revenue it reported during the corresponding quarter in 2011.

For the first quarter of 2013, the company reported a net income of $63.8m, or $0.17 diluted earnings per share, compared to $139.5m, or $0.34 diluted earnings per share of the same period prior year.

The company reported a GAAP net income of $140m during the quarter while Non-GAAP net income for the first quarter was $156m compared to non-GAAP net income of $222m during year ago period.

During the quarter, NetApp saw growth from its FlexPod data centre offering which is built on shared storage infrastructure between NetApp and Cisco Systems.

NetApp said it reached 1,300 FlexPod customers during the quarter.

NetApp president and CEO Tom Georgens said that the company produced non-GAAP earnings per share above and revenue in line with its prior guidance.

"In Q1, we announced further innovations in Data ONTAP 8.1 that will enable customers to achieve an agile data infrastructure environment to cope with their dynamic business requirements," Georgens said.

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NetApp expects revenue for the second quarter of fiscal year 2013 to be in the range of $1.5bn to $1.6bn and earnings per share to range between $0.23 and $0.28.

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