NetApp Inc. Q4 Profit Decreases, but beats estimates

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

The company's earnings totaled $245 million, or $1.13 per share. This compares with $259 million, or $1.14 per share, in last year's fourth quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $334 million or $1.54 per share for the period.

Analysts on average had expected the company to earn $1.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.0% to $1.58 billion from $1.68 billion last year.

NetApp Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $245 Mln. vs. $259 Mln. last year. -EPS (Q4): $1.13 vs. $1.14 last year. -Analyst Estimates: $1.34 -Revenue (Q4): $1.58 Bln vs. $1.68 Bln last year.

-Guidance: Next quarter EPS guidance: $1.00 - $1.10 Next quarter revenue guidance: $1.325 - $1.475 Bln