Tuesday, May 25, 2010

NetApp Posts Revenue of $1.17 Billion

NetApp reported quarterly revenue of $1.17 billion compared to revenues of $880 million for the same period one year ago. GAAP net income was $145 million, or $.40 per share compared to GAAP net income of $68 million, or $0.21 per share for the same period in the prior year.

NetApp estimates revenue for the coming quarter to be in the range of $1.10 billion to $1.14 billion.

"With 50% growth in product revenue this quarter, NetApp significantly outperformed the competition. With accelerating revenue growth every quarter, we culminated our fiscal year with record levels of revenue, earnings per share, and free cash flow," said Tom Georgens, president & CEO. "The server virtualization and cloud computing trends are driving significant business for us, as our competitive advantages in those areas lead more customers to choose NetApp storage efficiency solutions for larger and larger data center projects."http://www.netapp.comhttp://