NetApp Inc. Bottom Line Drops 13% In Q3

(RTTNews) - NetApp Inc. (NTAP) announced a profit for third quarter that dropped compared to the same period last year.

The company said its bottom line fell to $206 million, or $0.70 per share. This was down from $238 million, or $0.75 per share, in last year's third quarter.

Analysts had expected the company to earn $0.68 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 10.3% to $1.39 billion. This was down from $1.55 billion last year.

NetApp Inc. earnings at a glance:

-Earnings (Q3): $206 Mln. vs. $238 Mln. last year. -Earnings Decline (Y-o-Y): -13.4% -EPS (Q3): $0.70 vs. $0.75 last year. -EPS Decline (Y-o-Y): -6.7% -Analysts Estimate: $0.68 -Revenue (Q3): $1.39 Bln vs. $1.55 Bln last year. -Revenue Change (Y-o-Y): -10.3%

-Guidance: Next quarter EPS guidance: $0.55 - $0.60 Next quarter revenue guidance: $1.35 - $1.50 Bln