NetApp: Fiscal Q4 Earnings Snapshot

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — NetApp Inc. (NTAP) on Wednesday reported fiscal fourth-quarter profit of $245 million.

The San Jose, California-based company said it had profit of $1.13 per share. Earnings, adjusted for one-time gains and costs, were $1.54 per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.

The data storage company posted revenue of $1.58 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $1.54 billion.

For the year, the company reported profit of $1.27 billion, or $5.79 per share. Revenue was reported as $6.36 billion.

For the current quarter ending in July, NetApp expects its per-share earnings to range from $1 to $1.10. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.34.

The company expects full-year earnings in the range of $5.65 to $5.85 per share.

_____

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