
NetApp Reports Fiscal Year 2014 First Quarter Results August 14, 2013 - View Financial Tables (PDF)
Achieves Strongest Branded Revenue Growth in 7 Quarters, Up 9% Year-Over-Year
Revenues of $1.516 billion, up 5% year-over-year
Non-GAAP EPS of $0.53, up 26% year-over-year
Cash from Operations of $286 million, up 25% year-over-year
$900 million returned to shareholders in share repurchases and cash dividends
Sunnyvale, Calif.-August 14, 2013-NetApp (NASDAQ: NTAP) today reported financial results for the first quarter of fiscal year 2014 ended July 26, 2013.
First Quarter Financial Results
Total revenues for the first quarter of fiscal year 2014 were $1.516 billion, an increase of 5% from the comparable period of the prior year. GAAP net income for the first quarter of fiscal year 2014 was $82 million, or $0.23 per share[1], compared to GAAP net income of $64 million, or $0.17 per share, for the comparable period of the prior year. Non-GAAP net income for the first quarter of fiscal year 2014 was $192 million, or $0.53 per share[2], compared to non-GAAP net income of $156 million, or $0.42 per share, for the first quarter of fiscal 2013.
Cash, Cash Equivalents and Investments
NetApp ended the first quarter of 2014 with $5.084 billion of total cash, cash equivalents and investments and during the quarter generated approximately $286 million in cash from operations. The company returned $900 million to shareholders during the quarter through share repurchases and a cash dividend. The next dividend in the amount of $0.15 per share will be paid on October 25, 2013 to shareholders of record as of the close of business on October 21, 2013.
NetApp delivered solid results and innovation with the latest release to our clustered Data ONTAP operating system, said Tom Georgens, president and CEO. Despite an uneven macro environment, our branded business was strong, with 9% year-over-year growth. This is evidence of the tremendous value we are delivering to customers today and their confidence in our long-term strategy to enable them to navigate the future.
Q2 Fiscal Year 2014 Outlook
The Company provided the following financial guidance for the second quarter of fiscal year 2014:
Total revenue is expected to be in the range of $1.560 billion to $1.660 billion
GAAP earnings per share is expected to be in the range of $0.41 to $0.46 per share
Non-GAAP earnings per share is expected to be in the range of $0.60 to $0.65 per share
Diluted shares[3] outstanding of approximately 351 million shares
Business Highlights
In its first quarter of fiscal year 2014, NetApp delivered technology innovation focused on helping customers capitalize on cloud and mobility trends, while also strengthening its strategic relationships with industry-leading partners. Highlights include:
NetApp Introduces Data ONTAP 8.2. New enhancements to clustered Data ONTAP 8.2 provide organizations and cloud service providers the capability to rapidly and cost effectively deliver new services and capacity with maximum application uptime. Clustered Data ONTAP delivers native multi-tenant, policy-based storage services via programmable APIs and application integrations that are core tenants of a software-defined storage environment.
NetApp Connect Delivers Mobile Access with Enterprise Level Data Protection. By keeping all data securely behind the corporate firewall, NetApp Connect offers mobile access to corporate data while maintaining the tight security and control that enterprise IT requires for keeping its data and business protected.
NetApp and Cisco Expand the FlexPod Platform. In a continuing effort to make data center infrastructures more responsive to applications' dynamic needs, Cisco and NetApp broadened the FlexPod portfolio with a new offering called FlexPod Select and introduced new validated designs across the entire suite. FlexPod Select components include NetApp E-Series and FAS storage systems.
NetApp Teams up with Microsoft to Accelerate Cloud Deployments. NetApp will invest $15 million in new ecosystem sales collaboration and continued technology integration with Microsoft to accelerate the adoption of enterprise cloud deployments.
Clustered Data ONTAP integrates with Citrix Technologies. New solution integrations from NetApp and Citrix combine the benefits of clustered Data ONTAP with Citrix technologies for desktop and application virtualization, mobile collaboration, and cloud services.
Microsoft's Server Platform Partner of the Year. NetApp was named Microsoft's Server Platform Partner of the Year for innovative storage solutions that enable nondisruptive operations and deliver optimal operational efficiency for virtualized environments and file services.
Editor's Note
Financial information previously found in the Supplemental Commentary document will now be included in the accompanying Supplemental Data tables of the quarterly financial press release.
In addition, historical supplemental data tables, providing historical multi-period financial information, will be available on our investor relations website at investors.netapp.com.
Webcast and Conference Call Information
NetApp will host a conference call to discuss these results today at 2:30 p.m. Pacific Time. To access the live webcast of this event, visit the NetApp Investor Relations website at investors.netapp.com. In addition, this press release and any other information related to the call will be posted on the Investor Relations website. An audio replay will also be available after 4:30 p.m. Pacific Time today on the website.
About NetApp
NetApp creates innovative storage and data management solutions that deliver outstanding cost efficiency and accelerate business breakthroughs. Our commitment to living our core values and consistently being recognized as a great place to work around the world a
Most recent headlines
13/03/2025
(L-R) Stephanie Suganami, Tatanka Means, John Malkovich, Ayo Edebiri, and Juliette Lewis attend the premiere of Opus at Eccles Theatre in Park City. (Photo by...
13/03/2025
Spotify took center stage at the London Book Fair this week, reaffirming our commitment to the audiobook market and showcasing our impact on the publishing indu...
13/03/2025
At Spotify, we work every day to lift up new voices, giving creators the opportunity to live off their art. Through Spotify Audiobooks, our in-house publishing ...
13/03/2025
Every time airborne law enforcement (ALE) teams fly, they expect their equipment to perform. Whether airborne units are conducting support for ground teams, bor...
13/03/2025
Sunday February 9 saw the annual return of the US' biggest television event, the Super Bowl LIX. Jamie McCombs, Fox Sports Audio Consultant / Sr. Audio capt...
13/03/2025
On Sunday March 2, stars across the film industry gathered at the Dolby Theatre in Los Angeles for the 97th Academy Awards. Production Sound Mixer Paul Sandweis...
13/03/2025
WUPPERTAL, Germany Riedel Communications will feature its new StageLink family of smart edge devices, Smart Audio and Mixing Engine (SAME) and Virtual Smart Pan...
13/03/2025
TAG Video Systems and Harmonic Partner to Deliver Enhanced Real-Time Monitoring ...
13/03/2025
DigitalGlue Invites NAB Visitors to Experience New Features in Managed Storage P...
13/03/2025
FOR-A America Theme - Connecting the Present, Building the Future - Comes to Lif...
13/03/2025
CTIA, the wireless industry association, has named former FCC Chairman Aji Pai as its President and Chief Executive Officer, effective April 1. He replaces Mere...
13/03/2025
he National Association of Broadcasters is urging the FCC to end its investigation of that controversial CBS interview with Kamala Harris stating there is no ...
13/03/2025
MIAMI CBS News & Stations continues to expand its use of augmented and virtual reality technologies with the planned launch of an augmented reality/virtual real...
13/03/2025
Srividhya Srinivasan, co-founder and chief customer success & innovation Officer at Amagi, tells TVBEurope how staying ahead of the latest trends is essential f...
13/03/2025
WASHINGTON FCC Chairman Brendan Carr announced that the agency has launched a massive, new deregulatory initiative that could potentially subject virtually all ...
13/03/2025
SUNNYVALE, Calif. SDVI has announced that it has integrated its Rally media supply chain management platform with the Spectra Vail multi-cloud data management s...
13/03/2025
ATLANTA Gray Media has announced that the Federal Communications Commission (FCC) has granted a waiver of its local ownership rules to permit Gray Media to acqu...
13/03/2025
TV Tech: What do you anticipate will be the most significant technology trends at the 2025 NAB Show?...
13/03/2025
Watch Student Naomi Soleils Folk Pop Performance on The Voice The songwriting major sang Stars by Grace Potter and the Nocturnals during the blind auditions.
...
13/03/2025
Roku Debuts NWSL Zone' Within Roku Sports to Spotlight Live Games, Content Feature marks Rokus first women's league-branded zone within service By Bra...
13/03/2025
Pixels, Images, Video, AI - and Us: A Perspective on AI from NDI Inventor Andrew...
13/03/2025
SVG New Sponsor Spotlight: Lighting Design Group's Steve Brill, Dennis Size ...
13/03/2025
IOC, Comcast NBCU Ink $3B Media-Rights Extension for Olympic Games Through 2036;...
13/03/2025
NCAA March Madness Live Returns with Expanded Availability of MultiView Vertical...
13/03/2025
SVG Sit-Down: Cosm's Devin Poolman on What It Takes To Deliver the Immersive...
13/03/2025
Sky Business, Sky's B2B division, providing connectivity and content to busi...
13/03/2025
Rohde & Schwarz launches R&S NRP140TWG(N) thermal power sensor: A new benchmark ...
13/03/2025
We asked the questions, analysed the answers and now we're excited to share the results of the fifth edition of the ICG Marketing Survey.
Our 2025 survey p...
13/03/2025
SAN JOSE, Calif. - March 13, 2025 Harmonic (NASDAQ: HLIT) today announced a breakthrough in video streaming innovation with the launch of new origin capabilitie...
13/03/2025
Haivision Showcases Mission-Critical Video Solutions at SOF Week 2025
Haivision's video wall systems, ISR technology, and DoDIN APL-certified video distri...
13/03/2025
Company Leads the Way with New Software-Based Production Platform, 12G Switcher,...
13/03/2025
A new Apple Immersive concert experience, Metallica, is coming to Apple Vision Pro this Friday, March 14. Filmed in Mexico City during the sold-out second-year ...
13/03/2025
Here is your host, Patrick Kielty!
Shake your Shamrocks, Patrick Kielty will be...
13/03/2025
This St. Patrick's weekend, RT invites you to celebrate all things Irish, showcasing the very best of Irish sport, entertainment and live coverage from the...
13/03/2025
What's next in AI is at GTC 2025. Not only the technology, but the people and ideas that are pushing AI forward - creating new opportunities, novel solution...
13/03/2025
Facebook
Twitter
LinkedIn
By combining T-Mobile's robust network, Thal...
13/03/2025
Bundle up - GeForce NOW is bringing a flurry of Blizzard titles to its ever-expanding library.
Prepare to weather epic gameplay in the cloud, tackling the genr...
13/03/2025
AI is leveling up the world's most beloved games, as the latest advancements...
13/03/2025
PC game modding is massive, with over 5 billion mods downloaded annually. Mods p...
12/03/2025
O Spotify acaba de lan ar o relat rio Loud & Clear deste ano, uma vis o transpar...
12/03/2025
Spotify acaba de presentar el informe Loud & Clear de este a o, una mirada trans...
12/03/2025
Ramadan, a period of profound spiritual significance for Muslims worldwide, is a time for fasting, prayer, reflection, and community. Enrich your experience thi...
12/03/2025
Spotify has just unveiled this year's Loud & Clear report, a transparent loo...
12/03/2025
More than 70% of FAST programming has been produced since 2010, according to new Gracenote report
NEW YORK March 12, 2025 Gracenote, the content data busin...
12/03/2025
GEONA, Nev. Independent digital and linear advertising rep firm Viamedia will adopt cloud-based ShowSeeker Pilot as its primary ad campaign and order management...
12/03/2025
BRUSSELS Mediagenix has announced that Wael Yasin has joined the company as sales director Central Europe....
12/03/2025
LONDON A new study highlights opportunities for shoppable TV and the massive impact online consumer spending is having on the economy, with Omdia predicting tha...
12/03/2025
CUPERTINO, Calif. Interra Systems has announced that Comcast Technology Solutions has integrated recent updates to BATON Version 9 into its operations....
12/03/2025
Nevion announces new 400G addition to its eMerge SDN media fabric offering
Brie Clayton March 12, 2025
0 Comments
High-capacity switch enhances existi...
12/03/2025
DaVinci Resolve Studio Delivers Cinematic Sound for Adam Bol
Brie Clayton March 12, 2025
0 Comments
Feature film relies on DaVinci Resolve Studio for ...