NetApp Inc. (NTAP) reported fourth quarter non-GAAP net income of $0.66 per share after the bell Wednesday, compared to $0.59 per share in the previous year. The consensus estimate was for EPS of $0.63. First quarter non-GAAP EPS is expected to be between $0.34 and $0.39, compared to the consensus estimate of $0.59.
NetApp gapped open sharply lower Thursday, but traded in a range throughout the session. The stock closed down by 4.04 at $28.82 on the highest volume of the year. NetApp has been losing ground since early April and sank to a new low for the year.
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