NetApp Inc. Q4 Profit Increases, Beats Estimates

(RTTNews) - NetApp Inc. (NTAP) reported a profit for its fourth quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $340 million, or $1.65 per share. This compares with $291 million, or $1.37 per share, last year.

Excluding items, NetApp Inc. reported adjusted earnings of $397 million or $1.93 per share for the period.

Analysts on average had expected the company to earn $1.9 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 3.8% to $1.732 billion from $1.668 billion last year.

NetApp Inc. earnings at a glance (GAAP) :

-Earnings: $340 Mln. vs. $291 Mln. last year. -EPS: $1.65 vs. $1.37 last year. -Revenue: $1.732 Bln vs. $1.668 Bln last year.

-Guidance: Next quarter EPS guidance: $1.16 - $1.58 Next quarter revenue guidance: $1.455 - $1.605 Bln