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NetApp reports flat revenue for Q2FY10
By siliconindia
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Friday, 20 November 2009, 21:44 IST
Sunnyvale: Storage and data management solutions provider NetApp reported results for the second quarter of fiscal year 2010, which ended October 30, 2009. Revenues for the second quarter of fiscal 2010 were $910 million, compared to revenues of $912 million for the same period one year ago.
For the second fiscal quarter of 2010, Generally Accepted Accounting Principles (GAAP) net income was $96 million, or $0.27 per share compared to GAAP net income of $43 million, or $0.13 per share for the same period in the prior year. Non-GAAP net income for the second fiscal quarter of 2010 was $130 million, or $0.37 per share, compared to non-GAAP net income of $92 million, or $0.28 per share for the same period one year ago. "NetApp delivered a strong quarter with record gross margins, record revenue from our storage area network (SAN) products, and overall revenue that exceeded our expectations," said Tom Georgens, President and CEO of NetApp.
Revenues for the first six months of the current fiscal year totaled $1.75 billion, compared to revenues of $1.78 billion for the first six months of the prior fiscal year, a decrease of two percent year over year. "Our value proposition resonates particularly well with customers who look to gain efficiency and streamline operations as they begin to build out their next-generation virtualized data centers. Driven by this demand, NetApp is forecasting record revenues for our next fiscal quarter," Georgens added.
NetApp estimates revenue for the third quarter of fiscal year 2010 to be in a range of $935 million to $955 million. The company expects the third quarter of fiscal year 2010 share count to increase by about five million shares. NetApp estimates that the third quarter of fiscal year 2010 GAAP earnings per share will be approximately $0.24 to $0.25 per share. NetApp estimates third quarter fiscal year 2010 non-GAAP earnings per share to be approximately $0.36 to $0.37 per share.