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4-Traders Homepage  >  Equities  >  Nasdaq  >  NetApp Inc.    NTAP

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NetApp : beats Street 4Q forecasts

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05/24/2017 | 10:22pm CEST

SUNNYVALE, Calif. (AP) _ NetApp Inc. (NTAP) on Wednesday reported fiscal fourth-quarter net income of $190 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Sunnyvale, California-based company said it had profit of 68 cents. Earnings, adjusted for one-time gains and costs, were 86 cents per share.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.

The data storage company posted revenue of $1.48 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $1.44 billion.

For the year, the company reported profit of $509 million, or $1.81 per share. Revenue was reported as $5.52 billion.

For the current quarter ending in August, NetApp expects its per-share earnings to range from 49 cents to 57 cents.

The company said it expects revenue in the range of $1.24 billion to $1.39 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.31 billion.

NetApp shares have risen 12 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 7 percent. In the final minutes of trading on Wednesday, shares hit $39.56, a climb of 57 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NTAP at https://www.zacks.com/ap/NTAP

Keywords: NetApp, Earnings Report

Automated Insights, source Associated Press News

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Financials ($)
Sales 2017 5 479 M
EBIT 2017 922 M
Net income 2017 493 M
Finance 2017 2 918 M
Yield 2017 1,92%
P/E ratio 2017 22,96
P/E ratio 2018 16,33
EV / Sales 2017 1,42x
EV / Sales 2018 1,37x
Capitalization 10 700 M
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Mean consensus HOLD
Number of Analysts 32
Average target price 42,9 $
Spread / Average Target 8,7%
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Managers
NameTitle
George Kurian President, Chief Executive Officer & Director
Thomas Michael Nevens Chairman
Bill Berg Senior Vice President-Operations
Ronald J. Pasek Chief Financial Officer & Executive Vice President
Mark F. Bregman Chief Technology Officer
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