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NetApp Rolls Out Financial Report

NetApp (NASDAQ: NTAP) announced results for the third quarter of fiscal year 2011, ending Jan. 28, 2011.

According to the firm, “revenues for the third quarter of fiscal year 2011 totaled $1.268 billion compared to revenues of $1.012 billion for the same period a year ago, an increase of 25 percent year over year.  For the third quarter of fiscal year 2011, GAAP net income was $172 million, or $0.42 per share, compared to GAAP net income of $108 million, or $0.30 per share, for the same period a year ago.”

“NetApp demonstrated momentum in the market again this quarter, with product revenue growth of 32 percent year over year, strong gross margins, and continued market share gains, ” CEO Tom Georgens said. “As customers move toward the next-generation IT infrastructure, NetApp’s innovation leadership is enabling compelling business outcomes for our customers and propelling our rapid growth.”

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