NetApp Doubles Quarterly Profits
NetApp has exceeded expectations with its fiscal fourth quarter and fiscal year 2010 earnings report today, setting records in revenue, income from operations and net income per share. As reported on InfoStor, GAAP net profit more than doubled in the fourth quarter to $145.1 million, vs. $68.4 million in Q4 2009.
"In short, NetApp posted its highest full-year growth rate in more than a decade, according to president and CEO Tom Georgens.
"As usual, NetApp officials were not very granular in breaking out revenue for specific product lines, but company officials did boast about a 50% gain in product revenue in Q4 2010 vs. Q4 2009. NetApp breaks out its income into three segments: products (hardware systems), software entitlements and maintenance (SEM), and services."
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