NetApp fourth quarter fiscal 2014 revenue dips 3.93 percent to $1,649 million

NetApp said its fourth quarter revenue dipped 3.93 percent to $1,649 million, while full fiscal revenue for 2014 decreased 0.1 percent $6,325.1 million.

Product revenue during fiscal 2014 of NetApp decreased $3,943.9 million against $4,092.3 million, while software entitlements and maintenance revenue increased to $914.8 million from $893.5 million and service revenue grew to $1,466.4 million from $1,346.6 million.

Its net income increased to $637.5 million from $505.3 million in full fiscal year and $197 million from $173.8 million in fourth quarter.

Americas contributed 56 percent revenue, while Americas commercial business 43 percent, US public sector 12 percent, EMEA 31 percent and Asia Pacific 14 percent revenue in full fiscal year of 2014, NetApp said.

Tom Georgens, chairman and CEO of NetApp, said: “With solutions like clustered Data ONTAP, our broad flash portfolio and differentiated approach to the cloud, customers are solving the challenges of today, with innovative solutions that pave the way for the future.”

In the first quarter of fiscal year 2015, NetApp expects net revenues of $1.42 billion to $1.52 billion, the company said.

InfotechLead News Team

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