NetApp posts net profit of US$161mn in fiscal Q4

Friday, May 27, 2011

US unified storage solutions provider NetApp (Nasdaq: NTAP) posted a net profit of US$161mn in its fiscal 4Q11, ended April 29, up from US$145mn in the year-ago period, the company said in a statement.

Revenues for the fiscal fourth quarter totaled US$1.43bn, advancing 21.8% year-on-year.

Revenues for fiscal 2011 totaled US$5.12bn compared to US$3.93bn for fiscal 2010, while net income surged 68.2% to US$673mn.

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"NetApp delivered 30% revenue growth, 38% growth in cash from operations and over US$1bn in non-GAAP operating profit during fiscal 2011," company president and CEO Tom Georgens said. "We achieved the largest market share gains in our history and closed a record number of million dollar deals, demonstrating our momentum in the market as enterprise customers increasingly choose NetApp as their vendor of choice for storage virtualization and cloud deployments."

NetApp expects revenues for the first quarter of fiscal 2012 to be around US$1.5bn.

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