The following excerpt is from the company's
SEC filing.
Net Revenues of $1.45 Billion, Up 8% Quarter-over-Quarter; GAAP
EPS of $0.39 and Non-GAAP EPS of $0.61
Product revenue of $815 million, Up 23% quarter-over-quarter
All Flash FAS units grew 246% quarter-over-quarter
Flash capacity grew 80% quarter-over-quarter
NetApp (NASDAQ: NTAP) today reported financial results for the
second quarter of fiscal year 2016, ended October 30, 2015.
Second Quarter Financial Results
revenues for the second quarter of fiscal year 2016 were $1.45
billion. GAAP net income for the second quarter of fisca l year
2016 was $114 million, or $0.39 income per share
, compared to GAAP net income of $160 million, or $0.49 income
per share, for the comparable period of the prior year.
Non-GAAP
net income for the second quarter of fiscal year 2016 was $181
million, or $0.61 income per share,
compared to non-GAAP net income of $226 million, or $0.70 income
per share, for the comparable period of the prior year
Cash, Cash Equivalents and Investments
NetApp ended the second quarter of fiscal year 2016 with $4.8
billion in total cash, cash equivalents and investments and
generated $145 million in cash from operations. During the second
quarter of fiscal year 2016, the Company returned $236 million to
shareholders through share repurchases and a cash dividend.
The next dividend in the amount of $0.18 per share will be paid
on January 20, 2016, to shareholders of record as of the close of
business on January 8, 2016.
"Our Q2 results reflect the progress we are making to pivot
NetApp for long-term growth in the data powered digital era. We are
moving forward with clarity and speed to better address the
changing industry and improve our own execution," said George
Kurian, CEO. "Customer wins and partner feedback drive my strong
conviction that our industry leading portfolio and differentiated
Data Fabric strategy will expand our opportunity and drive
long-term growth."
Q3 Fiscal Year 2016 Outlook
The Company provided the following financial guidance for the
third quarter of fiscal year 2016:
Net revenues are expected to be in the range of $1.40 billion to
$1.50 billion.
GAAP earnings per share is expected to be in the range of $0.47
to $0.52 per share.
Non-GAAP earnings per share is expected to be in the range of
$0.66 to $0.71 per share.
Business Highlights
NetApp Accelerates Customer and Partner Journey in Hybrid Cloud
and Flash Environments:
Guarantees 3X Performance For All-Flash Workloads.
NetApp extended a special offer for buyers of select all-flash
systems guaranteeing a 3X increase in enterprise database
performance compared to that of traditional, non-flash disk-based
systems.
Makes the Hybrid Cloud More Secure.
NetApp unveiled NetApp OnCommand
Cloud Manager 2.0 and integration with Amazon Simple Storage
Service Standard-Infrequent Access (Amazon S3 Standard-IA).
Offers Free Controller Upgrade.
Eligible customers who purchase a three-year SupportEdge Premium
contract
by December 31, 2015 now qualify for a new All-Flash FAS (AFF)
controller free of charge as part of the renewal process.
Extends Support Price Protection.
NetApp enabled customers to extend their standard three-year
warranty and support for up to four more years.
Offers New AFF Series Model.
The new AFF8080 EX can be set up to address mainstream SAN
workloads in as little as 15 minutes.
Expands OpenStack Capabilities.
As founder of the OpenStack Manila open-source project, NetApp
announced production-ready capabilities for enterprises to easily
build or enhance a cloud-ready data center capable of handling
business-critical and content-management applications.
NetApp Insight
Technical Conference Showcases How Data Fabric Increases
Customer Success in the Hybrid Cloud:
Data Fabric Solution Essentials.
NetApp starter kits make it easier for customers to become
hybrid cloud ready and quickly see benefits as they evolve their
infrastructures.
Data Fabric Enablement Services.
NetApp experts help customers identify optimal workloads for the
cloud and gain the architectural design and deployment insights
they need for success.
Expansion of Cloud Service Provider Relationships.
NetApp is now a Google Cloud Platform Technology Partner,
providing tools which integrate to extend reach and
functionality.
NetApp Celebrates Business and Cultural Milestones:
Cisco and NetApp Celebrate Five Years of FlexPod
Customer Success.
FlexPod integrated infrastructure solutions deliver
unprecedented value to customers with shared revenue of $5.6
billion.
NetApp Named #4 World's Best Multinational Workplaces.
For the fifth consecutive year, NetApp's unique culture earned
the company a top-five position on this prestigious list by Great
Place to Work.
Webcast and Conference Call Information
NetApp will host a conference call to discuss these results
today at 2 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 p.m. Pacific Time today.
About NetApp
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. To learn more visit
http://www.netapp.com
"Safe Harbor" Statement Under U.S. Private Securities Litigation
Reform Act of 1995
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements include, but are not limited to, all
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