SUNNYVALE, Calif. (AP) - NetApp Inc., a network storage company, on
Wednesday said fiscal fourth-quarter profit was nearly flat, but results beat
expectations excluding some one-time expenses.
Profit for the quarter ended April 25 rose less than 1 percent to $89.8
million, or 26 cents per share, compared with $896.2 million, or 23 cents per
share, a year ago. Excluding one-time items such as amortization of intangible
assets, a stock-option expense, restructuring charges and a tax provision, net
income was 38 cents per share.
Revenue rose 17 percent to $937.7 million from $801.2 million last year.
Analysts polled by Thomson Financial expect a profit of 36 cents per share
on revenue of $938.1 million.
For the fiscal year, net income rose 4 percent to $309.7 million, or 86
cents per share, compared with $297.7 million, or 77 cents per share, last year.
Revenue rose 18 percent to $3.3 billion from $2.8 billion last year.
However, shares fell as the company offered first-quarter guidance below
expectations.
Shares fell $2.84, or 11 percent, to $22.95 during aftermarket trading.
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