NetApp Inc. Q4 Profit Decreases, but beats estimates

(RTTNews) - NetApp Inc. (NTAP) released a profit for fourth quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $259 million, or $1.14 per share. This compares with $334 million, or $1.46 per share, in last year's fourth quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $324 million or $1.42 per share for the period.

Analysts on average had expected the company to earn $1.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.7% to $1.68 billion from $1.56 billion last year.

NetApp Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $259 Mln. vs. $334 Mln. last year. -EPS (Q4): $1.14 vs. $1.46 last year. -Analyst Estimates: $1.28 -Revenue (Q4): $1.68 Bln vs. $1.56 Bln last year.

-Guidance: Next quarter EPS guidance: Adj: $1.05 - $1.15