NetApp Inc. (NTAP) reported fourth quarter non-GAAP EPS of $0.69 after the bell Tuesday, up from $0.66 in the prior year. The consensus estimate was for EPS of $0.68. The company expects to report first quarter non-GAAP EPS of $0.45 to $0.50. The consensus estimate is for EPS of $0.53.
NetApp has initiated a quarterly cash dividend of $0.15 per share of the Company's common stock. The Company also increased its current stock repurchase program, of which $1.4 billion remains outstanding, by an additional $1.6 billion.
NetApp declined during the first hour of trade Tuesday, but recovered some ground in late trade. The stock finished down by 0.56 at $36.63 on above average volume. NetApp is now up 0.93 on 1.7 million shares.
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