Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

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

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

NetApp Inc. : NetApp Grows Third-Quarter Profit 32%

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/13/2013 | 11:14pm CET

--Core earnings top guidance

--Midpoint of adjusted profit range seen above analysts' expectations

--Product sales slip

(Updates to add CEO quotes in the second and third paragraphs.)

 
   By Drew FitzGerald and Ben Fox Rubin 
 

NetApp Inc.'s (NTAP) fiscal third-quarter earnings jumped 32% as the data-storage firm's smaller software and services segments made up for a slight decline in product sales.

Chief Executive Tom Georgens said he was particularly pleased with better adoption of the company's Data Ontap storage platform, which helps enterprises manage information stored in different configurations.

"This is something that we've been investing in for a while," Mr. Georgens said in an interview. "It's a big innovation."

The Sunnyvale, Calif., company also provided a bright view of core earnings between 65 cents and 70 cents a share, a range ahead of analysts' average 65-cent target, according to a poll by Thomson Reuters. The company projected $1.7 billion to $1.8 billion of revenue, bracketing analysts' $1.75 billion estimate.

NetApp, which stores and manages clients' information, had been reporting sharply lower earnings since August as some customers--particularly defense and financial-services companies--avoided spending on data centers. Uncertainty in Europe also hurt the company's ability to predict future sales, executives had said.

Revenue in the latest quarter grew in all the company's major geographic areas, Mr. Georgens said, including government spending, which was treated as a separate area.

For the quarter ended Jan. 25, the company reported earnings of $158.1 million, or 43 cents a share, up from $119.6 million, or 32 cents a share, a year earlier. Excluding stock-based compensation and other items, per-share earnings were up at 67 cents from 58 cents.

Revenue improved 4.1% to $1.63 billion.

The company in November forecast adjusted earnings of 53 cents to 58 cents a share on revenue of $1.58 billion to $1.68 billion.

Gross margin widened to 59.2% from 58%, though input costs grew 1.2%.

Product sales, which make up the bulk of revenue, slipped 0.2%. Software revenue rose 12%, and service revenue grew 14%.

Separately, the company reported it closed its acquisition of ionGrid, a privately-held software provider that helps employees access files from mobile devices. Terms of the deal weren't disclosed.

Shares were off 7 cents at $35.75 after hours. As of the close, the stock was up 36% over the past three months, buoyed in part by November's better-than-feared fiscal second-quarter results.

Write to Drew FitzGerald at andrew.fitzgerald@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NETAPP INC.
02/23 NetApp to Participate in the Upcoming Morgan Stanley and JMP Securities Techn..
02/23 NETAPP : Compugen Receives Top Growth Partner Award for 2016 from NetApp
02/22 NETAPP : INDUSTRY VETERAN VIC MAHADEVAN JOINS SURELINE SYSTEMS’ ADVISORY B..
02/22 VMWARE : Contegix Accelerates Private Cloud Deployment and Cuts Service Costs in..
02/21 Contegix Accelerates Private Cloud Deployment and Cuts Service Costs in Half ..
02/21 2 SIZZLING HOT TECH STOCKS : NetApp, Inc. (NTAP), salesforce.com, inc. (CRM)
02/16 NETAPP : NTAP) Gains on Q3 Earnings
02/16 NetApp Showcases Solutions at HIMSS17 That Simplify Healthcare IT
02/16 NETAPP : Presolicitation Notice - 70-- Brand Name and Brand New (Never been used..
02/15 NETAPP : tops Street 3Q forecasts
More news
Sector news : Storage Devices
02:30pDJBERKSHIRE HATHAWAY : Buffett More Than Double Stake in Apple -- Update
02:08pDJMARKET SNAPSHOT : Dow Posts 11th Straight Record; S&P 500 Sees Fifth Straight We..
02:06pDJBERKSHIRE HATHAWAY : Buffett More Than Double Stake in Apple
02:06pDJBERKSHIRE HATHAWAY : Correction to Berkshire, Buffett story
01:42pDJBERKSHIRE HATHAWAY : Buffett More Than Double Stake in Apple
More sector news : Storage Devices
News from SeekingAlpha
02/24 NetApp - How Does A Storage Business Grow In The Days Of The Cloud?
02/17 NETAPP : Is The Signal Still Bullish?
02/16 PREMARKET GAINERS / LOSERS AS OF 9 : 10 am
02/15 NetApp (NTAP) Q3 2017 Results - Earnings Call Transcript
02/15 NetApp +8%; Q3 2017, Q4 outlook midpoint over expectations
Advertisement
Financials ($)
Sales 2017 5 476 M
EBIT 2017 923 M
Net income 2017 490 M
Finance 2017 2 924 M
Yield 2017 1,86%
P/E ratio 2017 24,07
P/E ratio 2018 17,50
EV / Sales 2017 1,53x
EV / Sales 2018 1,47x
Capitalization 11 277 M
More Financials
Chart NETAPP INC.
Duration : Period :
NetApp Inc. Technical Analysis Chart | NTAP | US64110D1046 | 4-Traders
Full-screen chart
Technical analysis trends NETAPP INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 34
Average target price 41,4 $
Spread / Average Target 1,1%
Consensus details
EPS Revisions
More Estimates Revisions
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
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
NETAPP INC.16.10%11 277
WESTERN DIGITAL CORP9.86%21 504
PURE STORAGE INC2.21%2 311
HITACHI MAXELL LTD9.51%1 049
NIMBLE STORAGE INC8.96%755
MELCO HOLDINGS INC.4.09%665
More Results