- NetApp (NASDAQ:NTAP) reports Q1 results with revenue and EPS beats. Product revenues were up 10% on the year to $723M. Software maintenance revenues were down 3%. Hardware maintenance and other services revenues were down 6% to $368M.
- Non-GAAP gross margins by segment: Product, 49.9%; Software Maintenance, 97%; Hardware Maintenance and Other, 70.1%.
- NetApp ended the quarter with $5.3B in cash and equivalents. The company generated $250M in cash from operations while returning $204M to shareholders.
- The next cash dividend of $0.20 per share will pay out on October 25 to shareholders of record at the close of business on October 6.
- Q2 outlook: revenue, $1.31B to $1.46B (consensus: $1.37B); EPS, $0.64 to $0.72 (consensus:$0.70).
- Press release
- NetApp shares are down 1.65% aftermarket.
- Previously: NetApp beats by $0.07, beats on revenue (Aug. 16)