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Net Revenues of $1.55 Billion; GAAP EPS of $0.56 and Non-GAAP EPS of $0.75
Sunnyvale, Calif. —February 11, 2015—NetApp (NASDAQ: NTAP) today reported financial results for the third quarter of fiscal year 2015, ended January 23, 2015.
Third Quarter Financial Results
Net revenues for the third quarter of fiscal year 2015 were $1.55 billion. GAAP net income for the third quarter of fiscal year 2015 was $177 million, or $0.56 per share, compared to GAAP net income of $192 million, or $0.55 per share, for the comparable period of the prior year. Non-GAAP net income for the third quarter of fiscal year 2015 was $238 million, or $0.75 per share, compared to non-GAAP net income of $261 million, or $0.75 per share, for the comparable period of the prior year.
Cash, Cash Equivalents and Investments
NetApp ended the third quarter of fiscal year 2015 with $5.25 billion of total cash, cash equivalents and investments and during the quarter generated $275 million in cash from operations. The Company returned $251 million to shareholders during the quarter through share repurchases and a cash dividend. The next dividend in the amount of $0.165 per share will be paid on April 23, 2015, to shareholders of record as of the close of business on April 10, 2015.
“To position NetApp for success now, and in the future, we remain focused on extending our data fabric vision, a differentiated strategy for the hybrid cloud which allows customers to seamlessly manage their data regardless of where it’s stored,” said Tom Georgens, Chairman and CEO. “In the third quarter we continued to deliver against this vision, enhancing our strong product portfolio with new software, services and systems to help our customers to realize the value of the hybrid cloud.”
Q4 Fiscal Year 2015 Outlook
The Company provided the following financial guidance for the fourth quarter of fiscal year 2015:
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, historical supplemental data tables and other information related to the call will be posted on the Investor Relations website. An audio replay will also be available on the website after 4:30 p.m. Pacific Time today.
Leading organizations worldwide count on NetApp for software, systems and services to manage and store their data. Customers value our teamwork, expertise and passion for helping them succeed now and into the future.