NEWS

NetApp reports revenue of $1.550 billion in Q2 FY2014

By VARINDIA - 2013-11-18

NetApp(NASDAQ:NTAP) has reported financial results for the second quarter of fiscal year 2014, ended October 25, 2013. Total revenues for the second quarter of fiscal year 2014 were $1.550 billion, an increase of 1% from the comparable period of the prior year. GAAP net income for the second quarter of fiscal year 2014 was $167 million, or $0.48 per share. Non-GAAP net income for the second quarter of fiscal year 2014 was $232 million.

NetApp ended the second quarter of 2014 with $5.273 billion of total cash, cash equivalents and investments and during the quarter generated approximately $363 million in cash from operations. The company returned $202 million to shareholders during the quarter through share repurchases and a cash dividend. The next dividend in the amount of $0.15 per share will be paid on January 22, 2014 to shareholders of record as of the close of business on January 9, 2014.

“NetApp is at the forefront of a changing IT landscape, creating opportunity from perceived threats. Though we face an ongoing uncertain macro environment, our solid branded revenue growth and share gains are evidence of the value customers place on our innovative, best-of-breed solutions.” said Tom Georgens, President and CEO, NetApp.

According to the company, total revenue for the third quarter of fiscal year 2014 is expected to be in the range of $1.575 billion to $1.675 billion; GAAP earnings per share is expected to be in the range of $0.50 to $0.55 per share whereas the Non-GAAP earnings per share is expected to be in the range of $0.68 to $0.73 per share.