NetApp Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - NetApp Inc. (NTAP) revealed a profit for first quarter that Decreased from last year but beat the Street estimates.

The company's earnings came in at $233 million, or $1.15 per share. This compares with $248 million, or $1.17 per share, last year.

Excluding items, NetApp Inc. reported adjusted earnings of $314 million or $1.55 per share for the period.

Analysts on average had expected the company to earn $1.54 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 1.2% to $1.559 billion from $1.541 billion last year.

NetApp Inc. earnings at a glance (GAAP) :

-Earnings: $233 Mln. vs. $248 Mln. last year. -EPS: $1.15 vs. $1.17 last year. -Revenue: $1.559 Bln vs. $1.541 Bln last year.

-Guidance: Next quarter EPS guidance: $1.84 - $1.94 Next quarter revenue guidance: $1.615 - $1.765 Bln Full year EPS guidance: $7.60 - $7.90 Full year revenue guidance: $6.625 - $6.875 Bln