SUNNYVALE, Calif. (AP) _ NetApp Inc. (NTAP) on Wednesday reported fiscal fourth-quarter profit of $334 million.
On a per-share basis, the Sunnyvale, California-based company said it had profit of $1.46. Earnings, adjusted for one-time gains and costs, were $1.17 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.
The data storage company posted revenue of $1.56 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $1.5 billion.
For the year, the company reported profit of $730 million, or $3.23 per share. Revenue was reported as $5.74 billion.
For the current quarter ending in August, NetApp expects its per-share earnings to range from 89 cents to 97 cents.
The company said it expects revenue in the range of $1.37 billion to $1.47 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $1.37 billion.
NetApp expects full-year earnings in the range of $4.45 to $4.65 per share.
NetApp shares have increased 16% since the beginning of the year, while the S&P's 500 index has risen 12%. In the final minutes of trading on Wednesday, shares hit $77.06, an increase of 75% in the last 12 months.
The Associated Press