by Adam Armstrong

NetApp Reports 4Q18 & Full Year Earnings

Today NetApp reported earnings for both its fiscal fourth quarter as well as its fiscal year that ended April 27, 2018. Overall the company saw some pretty good numbers for both. NetApp’s stock took a bit of a beating in after hours, most likely due to the timid outlook, but it is much improved over last year.

Looking at the numbers for the quarter, NetApp is reporting revenue of $1.64 billion up 11% from this time last year, $1.48 billion. For net income the company is reporting $271 million GAAP ($0.99/share) and $288 million non-GAAP ($1.05/share), both numbers improved over last year’s. NetApp is reporting cash from operations at $494 million. And the company returned $397 million to shareholders through stock repurchase and dividends.

For the fiscal year, NetApp is reporting revenue of $5.91 billion for the fiscal year, up 7% from $5.52 billion last year. The company saw net income of $957 million non-GAAP but only $76 million GAAP, the company, like all several companies, was affected by the 2017 Tax Reform Reconciliation Act and the one-time tax transition. This also affected earnings per share with GAAP being $0.28 and non-GAAP being $3.47. Cash, Cash Equivalents and Investments equaled $5.4 billion with cash from operations being $1.48 billion. For the fiscal year, the company returned over a billion dollars to shareholders through stock repurchase and dividends.

Over the last quarter the company rolled out updates to its ONTAP and a new all-flash array with the AF A800. NetApp will be doubling its dividend to $0.40/share next quarter. They will be expecting revenue in the range of $1.365 billion to $1.465 billion and earnings per share of $0.53-$0.59 GAAP and $0.76-$0.82 non-GAAP.

NetApp Investor Relations

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