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Netapp Reports Third Quarter Fiscal Year 2014 Results

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NetApp reported financial results for the third quarter of fiscal year 2014, ended January 24, 2014. Net revenues for the third quarter of fiscal year 2014 were $1.610 billion. GAAP net income for the third quarter of fiscal year 2014 was $192 million, or $0.55 per share,1 compared to GAAP net income of $158 million, or $0.43 per share, for the comparable period of the prior year.

Non-GAAP net income for the third quarter of fiscal year 2014 was $261 million, or $0.75 per share, compared to non-GAAP net income of $243 million, or $0.67 per share, for the comparable period of the prior year. NetApp ended the third quarter of 2014 with $5.069 billion of total cash, cash equivalents, and investments and during the quarter generated approximately $332 million in cash from operations. The Company returned $557 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 April 22, 2014 to shareholders of record as of the close of business on April 10, 2014. “We are pleased with our strong operational execution again this quarter,” said Tom Georgens, president and CEO. “With our strategy of delivering best-of-breed cloud-integrated and flash-accelerated solutions and our unique ability to manage data seamlessly across on- and off-premise environments, we are well positioned to create ongoing opportunity in the evolving IT landscape.”

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