NetApp announces Q2 results

Storage and data management solution provider NetApp has reported results for the second quarter of fiscal year 2013, which ended October 26, 2012. Revenues for the second quarter of fiscal year 2013 totaled $1.541 billion and were in line with prior guidance. Revenues for the same period a year ago totaled $1.507 billion.

For the second quarter of fiscal year 2013, GAAP net income was $110 million, or $0.30 per share, compared to GAAP net income of $166 million, or $0.44 per share for the same period a year ago. Non-GAAP net income for the second quarter of fiscal year 2013 was $189 million, or $0.51 per share, compared to non-GAAP net income of $236 million, or $0.63 per share for the same period a year ago.

Revenues for the first six months of fiscal year 2013 totaled $2.986 billion compared to revenues of $2.965 billion for the first six months of the prior fiscal year. GAAP net income for the first six months of fiscal year 2013 totaled $173 million, or $0.47 per share, compared to GAAP net income of $305 million, or $0.78 per share for the first six months of the prior fiscal year. Non-GAAP net income for the first six months of fiscal year 2013 totaled $345 million, or $0.93 per share, compared to non-GAAP net income of $458 million, or $1.17 per share for the first six months of the prior fiscal year.

“NetApp produced healthy financial results in the second quarter with revenue roughly at the midpoint of and EPS above our guidance range, despite a difficult environment. We saw a strong uptake of NetApp Data ONTAP 8 and clustered Data ONTAP, as customers are looking to build agile data infrastructure environments with intelligent data management, nearly unlimited scalability, and nondisruptive operations,” said Tom Georgens, president and CEO.

“We also saw momentum in our partnering strategy with continued FlexPod growth and a record high revenue contribution from Arrow and Avnet. Our focus on delivering best-of-breed storage solutions and the leverage we gain through go-to-market and channel partners will enable NetApp to grow our business and gain share.”

 

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