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