NetApp Results Miss Estimates, Q1 Outlook Weak; Stock Down 6%

(RTTNews) - Data-storage systems maker NetApp Inc (NTAP) on Wednesday reported fourth-quarter net earnings of $134.9 million or $0.43 per share compared with $197 million or $0.59 per share last year.

Excluding items, adjusted earnings for the quarter were $0.65 per share compared with $0.84 per share a year ago.

Revenues for the quarter were lower at $1.54 billion compared with $1.65 billion in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.72 per share on revenues of $1.59 billion for the quarter. Analysts' estimates typically exclude special items.

For the first quarter, the company expects adjusted earnings of $0.20 to $0.25 per share on revenues of $1.28 billion to $1.38 billion. Analysts expect earnings of $0.60 per share on revenues of $1.46 billion.