NetApp has posted its financial results for the second quarter of fiscal year 2014, ended October 25, 2013.
Second Quarter Financial Results
Total revenues for the second quarter of fiscal year 2014 stood at $1.550 billion, a 1 per cent increase from the comparable period of the prior year. GAAP net income for the second quarter of fiscal year 2014 was $167 million, or $0.48 per share, compared to GAAP net income of $110 million, or $0.30 per share, for the comparable period of the prior year.
Non-GAAP net income for the second quarter of fiscal year 2014 was $232 million, or $0.66 per share, compared to non-GAAP net income of $189 million, or $0.51 per share, for the comparable period of the prior year.
Cash, Cash Equivalents and Investments
NetApp ended the second quarter of 2014 with $5.273 billion of total cash, cash equivalents and investments and during the quarter generated approximately $363 million in cash from operations. The company returned $202 million to shareholders during the quarter through share repurchases and a cash dividend. The next dividend in the amount of $0.15 per share will be paid on January 22, 2014 to shareholders of record as of the close of business on January 9, 2014.
Outlook for the third quarter of fiscal year 2014
The Company is providing the following financial guidance for the third quarter of fiscal year 2014:
Total revenue is expected to be in the range of $1.575 billion to $1.675 billion
GAAP earnings per share is expected to be in the range of $0.50 to $0.55 per share
Non-GAAP earnings per share is expected to be in the range of $0.68 to $0.73 per share
