NetApp Inc. Q3 Profit Drops, Inline With Estimates

(RTTNews) - NetApp Inc. (NTAP) reported earnings for third quarter that decreased from last year in line with the Street estimates.

The company's bottom line came in at $299 million, or $1.44 per share. This compares with $313 million, or $1.48 per share, last year.

Excluding items, NetApp Inc. reported adjusted earnings of $397 million or $1.91 per share for the period.

Analysts on average had expected the company to earn $1.91 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 2.2% to $1.641 billion from $1.606 billion last year.

NetApp Inc. earnings at a glance (GAAP) :

-Earnings: $299 Mln. vs. $313 Mln. last year. -EPS: $1.44 vs. $1.48 last year. -Revenue: $1.641 Bln vs. $1.606 Bln last year.

-Guidance: Next quarter EPS guidance: $1.84 - $1.94 Next quarter revenue guidance: $1.65 - $1.80 Bln Full year EPS guidance: $7.17 - $7.27 Full year revenue guidance: $6.49 - $6.64 Bln