NetApp Inc. Announces 45% Advance In Q1 Earnings

(RTTNews) - NetApp Inc. (NTAP) reported a profit for its first quarter that gained ground compared to the same period last year.

The company said its bottom line rose to $129 million, or $0.46 per share. This was up from $89 million, or $0.29 per share, in last year's first quarter.

Analysts had expected the company to earn $0.36 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 3.0% to $1.29 billion. This was down from $1.33 billion last year.

NetApp Inc. earnings at a glance:

-Earnings (Q1): $129 Mln. vs. $89 Mln. last year. -Earnings Growth (Y-o-Y): 44.9% -EPS (Q1): $0.46 vs. $0.29 last year. -EPS Growth (Y-o-Y): 58.6% -Analysts Estimate: $0.36 -Revenue (Q1): $1.29 Bln vs. $1.33 Bln last year. -Revenue Change (Y-o-Y): -3.0%

-Guidance: Next quarter EPS guidance: $0.51 - $0.56 Next quarter revenue guidance: $1.265 - $1.415 Bln