NetApp Reports Second Quarter Fiscal Year 2016 Results November 18, 2015 - View Financial Tables (PDF)
Net Revenues of $1.45 Billion, Up 8% Quarter-over-Quarter; GAAP EPS of $0.39 and Non-GAAP EPS of $0.61
Product revenue of $815 million, up 23% quarter-over-quarter
All Flash FAS units grew 246% quarter-over-quarter
Flash capacity grew 80% quarter-over-quarter
Sunnyvale, Calif.-November 18, 2015-NetApp (NASDAQ: NTAP) today reported financial results for the second quarter of fiscal year 2016, ended October 30, 2015.
Second Quarter Financial Results
Net revenues for the second quarter of fiscal year 2016 were $1.45 billion. GAAP net income for the second quarter of fiscal year 2016 was $114 million, or $0.39 income per share[1] , compared to GAAP net income of $160 million, or $0.49 income per share, for the comparable period of the prior year. Non-GAAP net income for the second quarter of fiscal year 2016 was $181 million, or $0.61 income per share,[2] compared to non-GAAP net income of $226 million, or $0.70 income per share, for the comparable period of the prior year.
Cash, Cash Equivalents and Investments
NetApp ended the second quarter of fiscal year 2016 with $4.8 billion in total cash, cash equivalents and investments and generated $145 million in cash from operations. During the second quarter of fiscal year 2016, the Company returned $236 million to shareholders through share repurchases and a cash dividend.
The next dividend in the amount of $0.18 per share will be paid on January 20, 2016, to shareholders of record as of the close of business on January 8, 2016.
Our Q2 results reflect the progress we are making to pivot NetApp for long-term growth in the data powered digital era. We are moving forward with clarity and speed to better address the changing industry and improve our own execution, said George Kurian, CEO. Customer wins and partner feedback drive my strong conviction that our industry leading portfolio and differentiated Data Fabric strategy will expand our opportunity and drive long-term growth.
Q3 Fiscal Year 2016 Outlook
The Company provided the following financial guidance for the third quarter of fiscal year 2016:
Net revenues are expected to be in the range of $1.40 billion to $1.50 billion.
GAAP earnings per share is expected to be in the range of $0.47 to $0.52 per share.
Non-GAAP earnings per share is expected to be in the range of $0.66 to $0.71 per share.
Business Highlights
NetApp Accelerates Customer and Partner Journey in Hybrid Cloud and Flash Environments:
Guarantees 3X Performance For All-Flash Workloads. NetApp extended a special offer for buyers of select all-flash systems guaranteeing a 3X increase in enterprise database performance compared to that of traditional, non-flash disk-based systems.[3]
Makes the Hybrid Cloud More Secure. NetApp unveiled NetApp OnCommand Cloud Manager 2.0 and integration with Amazon Simple Storage Service Standard-Infrequent Access (Amazon S3 Standard-IA).
Offers Free Controller Upgrade. Eligible customers who purchase a three-year SupportEdge Premium contract by December 31, 2015 now qualify for a new All-Flash FAS (AFF) controller free of charge as part of the renewal process.[4]
Extends Support Price Protection. NetApp enabled customers to extend their standard three-year warranty and support for up to four more years.
Offers New AFF Series Model. The new AFF8080 EX can be set up to address mainstream SAN workloads in as little as 15 minutes.
Expands OpenStack Capabilities. As founder of the OpenStack Manila open-source project, NetApp announced production-ready capabilities for enterprises to easily build or enhance a cloud-ready data center capable of handling business-critical and content-management applications.
NetApp Insight Technical Conference Showcases How Data Fabric Increases Customer Success in the Hybrid Cloud:
Data Fabric Solution Essentials. NetApp starter kits make it easier for customers to become hybrid cloud ready and quickly see benefits as they evolve their infrastructures.
Data Fabric Enablement Services. NetApp experts help customers identify optimal workloads for the cloud and gain the architectural design and deployment insights they need for success.
Expansion of Cloud Service Provider Relationships. NetApp is now a Google Cloud Platform Technology Partner, providing tools which integrate to extend reach and functionality.
NetApp Celebrates Business and Cultural Milestones:
Cisco and NetApp Celebrate Five Years of FlexPod Customer Success. FlexPod integrated infrastructure solutions deliver unprecedented value to customers with shared revenue of $5.6 billion.
NetApp Named #4 World's Best Multinational Workplaces. For the fifth consecutive year, NetApp's unique culture earned the company a top-five position on this prestigious list by Great Place to Work.
Webcast and Conference Call Information
NetApp will host a conference call to discuss these results today at 2 p.m. Pacific Time. To access the live webcast of this event, visit the NetApp Investor Relations website at investors.netapp.com. In addition, this press release, historical supplemental data tables and other information related to the call will be posted on the Investor Relations website. An audio replay will also be available on the website after 4 p.m. Pacific Time today.
About NetApp
Leading organizations worldwide count on NetApp for software, systems and services to manage and store their data. Customers value our teamwork, expertise and passion for helping them succeed now and into the future. To learn more visit www.netapp.com.
Press Contact: Investor Contact:
Meghan Fintland
NetApp
1 (408) 822-1389
Meghan.Fintland@netapp.com Kris Newton
NetApp
1 (408) 822-3312
Kris.Newton@netapp.com
NetApp, the NetApp logo, FlexPod, NetApp Insight, and OnCo
Most recent headlines
11/12/2025
Dalet, a leading provider of cloud-native, end-to-end media workflow solutions, ...
02/12/2025
Case Study: How Mid-Atlantic Sports Network Moved to All-IP Distribution in 60 D...
02/12/2025
2025 Sports Broadcasting Hall of Fame: Lee Corso, Coach, Commentator, FirebrandBy Ken Kerschbaumer
Tuesday, December 2, 2025 - 7:00 am
Print This Story | S...
02/12/2025
SVG All-Stars: Dan Nabors, Senior Director, Remote Engineering, TNT SportsThe veteran tech leader is helping guide Warner Bros. Discovery's at-home' re...
02/12/2025
National Lacrosse League Opens Season With New Cloud-Based Official Replay-Revie...
02/12/2025
Platinum White Paper: The Cinematic Look in Live Production - Bridging Aesthetic...
02/12/2025
SVG India Announces Advisory Board; JioStar's Prashant Khanna Named ChairmanBy Ken Kerschbaumer
Tuesday, December 2, 2025 - 11:15 am
Print This Story |...
02/12/2025
SVG Summit 2025 Preview: New AI Production Tools Workshop' Features ESPN, F...
02/12/2025
Written and directed by Hailey Gates, Atropia won the U.S. Grand Jury Prize: Dramatic at the 2025 Sundance Film Festival....
02/12/2025
The lightweight and highly portable CORVUS-RAVEN, recently demonstrated at the V...
02/12/2025
The lightweight, rugged Panther 2 tri-band VSAT delivers high-speed data communications for Internet, VPN connectivity and video transmission over commercial an...
02/12/2025
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...
02/12/2025
NGID volunteers in the United States
NGID volunteers in Mexico
NGID volunteers in India
NGID volunteers in Spain
NGID volunteers in Australia
NGID voluntee...
02/12/2025
WASHINGTON The Federal Communications Commission's Media Bureau has issued a reminder that stations in DMAs 111 through 120 must implement its audio descrip...
02/12/2025
SAN DIEGO Sony Electronics today introduced the Alpha 7 V (ILCE-7M5), the fifth generation of its Alpha 7 full-frame mirrorless lineup, powered by the newly dev...
02/12/2025
WASHINGTON The Federal Communications Commission has opened a docket for comments on Nexstar Media Group's proposed $6.2 billion acquisition of Tegna and se...
02/12/2025
WASHINGTON The National Association of Broadcasters has added a trio of media executives, Veronica Rodriguez, Matt Schnaars and Jeff Warshaw, to its board of di...
02/12/2025
MILAN, Italy Brightcove has released seven new features designed to expand global reach, improve audience engagement, enhance live-streaming quality and streaml...
02/12/2025
BCNEXXT, the developers of the advanced playout platform Vipe, today announced a new Service Provider Partner agreement with NPC Media, the Australian managed p...
02/12/2025
DPA Microphones today announces the immediate availability of its new N-Series Digital Wireless Microphone System for customers throughout the U.S. In addition ...
02/12/2025
Hiltron Communications reports a well attended and successful Space Tech Expo exhibition, held at the Messe Bremen from Tuesday November 18 through Thursday Nov...
02/12/2025
The beginning of September saw Riverfire by Australian Retirement Trust, in association with Channel 9 and Triple M, kick off the 2025 Brisbane Festival in spec...
02/12/2025
SGM Lighting is pleased to announce an exciting new partnership with ACT Entertainment, under which ACT will serve as the exclusive distributor for SGM's ne...
02/12/2025
Harmonic (NASDAQ: HLIT) today announced that Telia, the second largest telecom operator in Norway, is modernizing its broadband network with the company's i...
02/12/2025
European cloud data protection specialist Keepit is expanding its sales network in the DACH region and has gained TIM AG, one of the leading value-added distrib...
02/12/2025
Featured products at ISE 2026
This year s ISE 2026 theme "Push Beyond" reflects Calrec s direction of travel. The company is dedicated to supporting the AV an...
02/12/2025
Czech Television, the national public broadcaster, has deployed one of the largest LiveU live production projects in the region for live sports and news coverag...
02/12/2025
Test & measurement innovator, Leader Electronics, has announced the release of v8.2 software for its ZEN and ZEN-W Series, bringing advanced cinematic camera se...
02/12/2025
Global provider of video streaming software and services, Accedo, and OTT platform provider, Magine Pro, have signed a binding agreement to carve out and merge ...
02/12/2025
With proven success in broadcast, OTT, and content supply chains, K.S Avinash set to scale Skandha's service-first approach across APAC
Skandha Media Servi...
02/12/2025
AJA Video Systems has joined the RAVENNA community, a network of partners devoted to advancing the RAVENNA standard for distributing real-time audio over intern...
02/12/2025
HUNT VALLEY, Md. Sinclair and its wholly-owned subsidiary One Media Technologies have released a new report focused on how ATSC 3.0, the IP-based NextGen TV sta...
02/12/2025
WASHINGTON The Federal Communications Commission's Media Bureau has issued a reminder that stations in DMAs 111 through 120 must implement its audio descrip...
02/12/2025
WASHINGTON Members of the Advanced Television Systems Committee have elected four industry veterans to three-year terms on the organization's board of direc...
02/12/2025
A new survey from S&P Global Market Intelligence Kagan highlights how important social media is for younger consumers, with Gen Z spending 5.1 hours a day on so...
02/12/2025
Faculty Notes: Fall/Winter 2025 Recent accomplishments, releases, and events by Berklee faculty.
December 1, 2025
By
Editorial Staff
The cast of Kind of M...
02/12/2025
Ring In The Holidays With Our Biggest Sale Ever On Ivory II Pianos!From now until December 31st, you can save 50% or more on every Ivory II piano and collection...
02/12/2025
Back to All News
Made in America: How Stranger Things' Electrified the US Economy
Entertainment
02 December 2025
GlobalUnited States
Link copied to cl...
02/12/2025
Back to All News
Culinary Class Wars' Season 2 Trailer Teases New Rules, R...
02/12/2025
--
The International Electrotechnical Commission (IEC), the International Organization for Standardization (ISO), and the International Telecommunication Unio...
02/12/2025
Harmonic's cOS Platform Will Redefine Subscribers' Quality of Experience, Lowering Churn SAN JOSE, Calif. - Dec. 2, 2025 - Harmonic (NASDAQ: HLIT) today...
02/12/2025
At AWS re:Invent, NVIDIA and Amazon Web Services expanded their strategic collab...
02/12/2025
S an Nollaig
Hollywood blockbusters The Banshees of Inisherin, Barbie and Oppenheimer make their Irish TV debut
Tune into the classics such as Love Actual...
02/12/2025
Showcasing fresh Irish storytelling and emerging talent Storyland 2025 signals a fantastic time for Irish drama
RT and F s ireann/Screen Ireland are proud to...
01/12/2025
L3Harris and PentenAmio formalise their teaming agreement at MilCIS 2025, streng...
01/12/2025
Artemis II is NASA's first crewed flight test of the Space Launch System rocket and Orion spacecraft. The crew, from left: Commander Reid Wiseman, Pilot Vic...
01/12/2025
IRVINE, Calif. Wooden Camera has introduced its new Accessory Collection for the Canon EOS C50. The new lineup includes a low-profile, gimbal-ready cage, expand...
01/12/2025
WASHINGTON The Federal Communications Commission has released a tentative agenda for its Dec. 18 Open Commission Meeting that will include a vote on a report an...
01/12/2025
In most years, a graph of annual local TV ad spending is about as predictable as an electrocardiogram of a reasonably healthy patient in a doctor's office. ...
NetApp Reports Second Quarter Fiscal Year 2016 Results November 18, 2015 - View Financial Tables (PDF)
