NetApp, Inc. (NTAP) Tuesday reported fourth-quarter profit of $174 million, down from $181 million in the same period a year ago. On a per-share basis, earnings were $0.47, flat with last year.
Adjusted earnings for the quarter was $253 million or $0.69 per share. On average, 34 analysts polled by Thomson Reuters expected the company to earn $0.68 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues improved to $1.72 billion from $1.70 billion last year. Analysts expecetd revenues of $1.76 billion.
Looking ahead, The company anticipates a first-quarter profit in the range of $0.13 to $0.18 per share, with adjusted earnings ranging between $0.45 and $0.50 per share.
Operating expenses increased to $827.8 million from $773.6 million last year.
Revenues are projected in the range of $1.475 billion to $1.575 billion. Analysts currently expect the company to report first-quarter earnings of $2.28 per share on revenues of $6.37 billion.
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