NetApp Inc. Q4 Profit Increases, Beats Estimates

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

The company's bottom line came in at $291 million, or $1.37 per share. This compares with $245 million, or $1.13 per share, in last year's fourth quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $382 million or $1.80 per share for the period.

Analysts on average had expected the company to earn $1.78 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.7% to $1.67 billion from $1.58 billion last year.

NetApp Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $291 Mln. vs. $245 Mln. last year. -EPS (Q4): $1.37 vs. $1.13 last year. -Revenue (Q4): $1.67 Bln vs. $1.58 Bln last year.

-Guidance: Next quarter EPS guidance: $1.40 - $1.50