NetApp reports $5.1B in 2011 revenue

NetApp expects to grow revenue by 26% to 34% next year

NetApp today reported its fourth quarter financial results as well as for all of fiscal year 2011, stating that it took in more than $1 billion more in revenue this year over last.

Revenues for fiscal year 2011 totaled $5.1 billion compared to revenues of $3.9 billion for fiscal year 2010.

The storage vendor's total revenue for the fourth quarter was $1.4 billion, compared with $1.1 billion for the fourth quarter of 2010. GAAP net income was $160 million, compared to $145.1 million year-over-year in the fourth quarter.

GAAP net income for fiscal year 2011 was $673.1 million, or $1.71 per share, compared to GAAP net income of $400.4 million

"NetApp delivered 30% revenue growth, 38% growth in cash from operations ... during fiscal 2011. We achieved the largest market share gains in our history and closed a record number of million dollar deals," NetApp CEO Tom Georgens said in a statement.

The storage vendor estimates revenue for the first quarter of fiscal year 2012 to be approximately $1.5 billion, plus or minus 3%, which equates to approximately 2% to 8% sequential revenue growth and approximately 26% to 34% year over year revenue growth.

During the fourth quarter, NetApp entered into a $480 million definitive agreement to purchase the Engenio external storage systems business from LSI Corp.

Engenio would give NetApp a foothold in emerging and fast-growing market segments such as video, including full-motion video capture and digital video surveillance.

Tags storagenetappstorage softwareStorage Management

More about AAPNetAppNetAppTopic

ARN Directory | Distributors relevant to this article

Comments

Comments are now closed

 

Latest News

09:26AM
Dimension Data launches managed Cloud platform for federal government
08:14AM
5G or not 5G? Just ask Ericsson
08:13AM
IoT in the enterprise up three-fold, study finds
04:42AM
Global Forum: Innovation creates opportunity, causes disruption
More News
25 Nov
GovInnovate Summit
03 Dec
DC Infrastructure Solutions Professional
04 Dec
DC Infrastructure Delivery Professional
16 Dec
DC Infrastructure Solutions Professional
View all events