SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — NetApp Inc. (NTAP) on Thursday reported fiscal fourth-quarter net income of $404 million.
On a per-share basis, the San Jose, California-based company said it had profit of $2.03. Earnings, adjusted for one-time gains and costs, came to $2.43 per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The data storage company posted revenue of $1.95 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $1.86 billion.
For the year, the company reported profit of $1.28 billion, or $6.35 per share. Revenue was reported as $6.93 billion.
For the current quarter ending in July, NetApp expects its per-share earnings to range from $2.05 to $2.15.
The company said it expects revenue in the range of $1.75 billion to $1.9 billion for the fiscal first quarter.
NetApp expects full-year earnings in the range of $8.70 to $9 per share, with revenue ranging from $7.33 billion to $7.58 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NTAP at https://www.zacks.com/ap/NTAP
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