NetApp first quarter net income slides

Revenues were flat at about $1.5 billion compared to the year-ago quarter.

NetApp’s net income more than halved in its first quarter to about $64m compared to $140m in the same period a year ago.

Its revenues were flat at about $1.5 billion compared to the year-ago quarter.

The company’s earnings and revenue were in line with its previous guidance, NetApp president and CEO, Tom Georgens, said in a statement.

“In Q1, we announced further innovations in Data ONTAP 8.1 that will enable customers to achieve an agile data infrastructure environment to cope with their dynamic business requirements,” he said.

NetApp estimates revenue for the second quarter of 2013 to range from $1.5bn to $1.6bn.

In its first quarter, it launched Data ONTAP, a storage operating system. The company also unveiled FAS2220, an entry-level product portfolio aimed at providing midsize customers with new technologies and increased value.

Cisco and NetApp also launched a global channel initiative to help its FlexPod converged infrastructure product that has about 1300 customers. The program will reward FlexPod channel partners for investing in sales capabilities and services practices.

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