August 17, 2016 - View Financial Tables (PDF)
Net Revenues of $1.29 Billion for the First Quarter
Clustered Data ONTAP deployed on 32% of installed base systems
Deferred revenue and financed unearned services revenue up 8% year-over-year
Free cash flow[1] of $192 million, up more than 100% year-over-year
$228 million returned to shareholders in share repurchases and cash dividends
Sunnyvale, Calif.-August 17, 2016-NetApp (NASDAQ: NTAP) today reported financial results for the first quarter fiscal year 2017, ended July 29, 2016.
First Quarter Financial Results
Net revenues for the first quarter of fiscal year 2017 were $1.29 billion. GAAP net income for the first quarter of fiscal year 2017 was $64 million, or $0.23 income per share,[2] compared to GAAP net loss of $30 million, or $0.10 loss per share,[3] for the comparable period of the prior year. Non-GAAP net income for the first quarter of fiscal year 2017 was $129 million, or $0.46 income per share,[4] compared to non-GAAP net income of $89 million, or $0.29 income per share, for the comparable period of the prior year.
Cash, Cash Equivalents and Investments
NetApp ended the first quarter of fiscal year 2017 with $4.4 billion in total cash, cash equivalents and investments. During the first quarter of fiscal year 2017, the Company generated $228 million in cash from operations and returned $228 million to shareholders through share repurchases and a cash dividend.
The Company announced the next cash dividend of $0.19 per share. The quarterly dividend will be paid on October 26, 2016, to shareholders of record as of the close of business on October 7, 2016.
We are pleased with our first quarter results. Our focus on disciplined execution of our strategy is yielding results and starting to change the trajectory of our business, said George Kurian, chief executive officer. We remain sharply focused on operating more efficiently while delivering market-leading innovations that are aligned to our customers business and IT transformation priorities.
Q2 Fiscal Year 2017 Outlook
The Company provided the following financial guidance for the second quarter of fiscal year 2017:
Net revenues are expected to be in the range of $1.265 billion to $1.415 billion.
GAAP earnings per share is expected to be in the range of $0.31 to $0.36 per share.
Non-GAAP earnings per share is expected to be in the range of $0.51 to $0.56 per share.
Business Highlights
Continued Leadership in Flash
NetApp Flash Accelerates Docker Ecosystem with Native Storage Integration. Integration of the NetApp flash storage portfolio with the NetApp Docker Volume Plug-In (nDVP) allows containerized applications to take advantage of solid-state performance with true deployment flexibility.
NetApp SolidFire Unveils Innovative Storage Purchasing Model for the Next-Generation Data Center. FlashForward Capacity Licensing creates significant flexibility and investment protection for customers to purchase storage infrastructure in alignment with the dynamic and growing nature of their businesses.
NetApp SolidFire Introduces New Highest-Density SF-Series. The latest addition to the NetApp SolidFire SF-Series product line delivers twice the performance and capacity and version 9 of the SolidFire Element operating system (Fluorine) simplifies customers' transitions to service delivery-oriented infrastructure.
NetApp FlashAdvantage 3-4-5 Makes the All-Flash Data Center a Reality. The new FlashAdvantage 3-4-5 program now includes the industry's only guaranteed efficiency data reduction of 4:1. This program, combined with the new NetApp 15TB solid state drives, will make flash the ideal workload consolidation platform for customers' infrastructure needs.
Strength Within the Hybrid Cloud
NetApp Strengthens the Enterprise's Ability to Protect and Manage Data Across the Hybrid Cloud. New enhancements to NetApp data protection software, including NetApp OnCommand Insight and new NetApp Data Protection Solutions for Microsoft Office 365, help customers reduce the risk of data loss while enabling business continuity with the right mix of cloud resources.
NetApp Simplifies Transition to Hybrid Cloud, Next-Generation Data Center. With ONTAP 9 software, enterprises can quickly integrate the best of traditional and emerging technologies, incorporating flash, the cloud, and software-defined architectures to build a Data Fabric foundation across on-premises and cloud resources.
Customers and Partners Achieve Success Through NetApp
NetApp Helps Protect NASA Johnson Space Center's Mission-Critical Data. With one of the largest cloud footprints of any U.S. federal government agency, NASA chose NetApp AltaVault to help protect NASA's mission-critical data, optimize its cloud footprint, and drive down cost.
NetApp Builds Momentum Within the Education Industry. NetApp AFF enabled the University of Scranton to enhance e-learning with a bring your own device program, which helped connect students and teachers anywhere in the world at any time. In addition, Seminole County Public Schools used NetApp FAS8040HA storage and AltaVault backup-to-cloud solutions to provide nonstop, secure data access and fast application response to more than 40 departments.
Citrix Speeds Mobile Application Delivery with NetApp FlexPod with All Flash FAS. Citrix chose NetApp to support automated testing on a large scale, drive down latency, and work with the Citrix XenServer and NFS shared storage. NetApp's performance, flexibility, rich data management features, and previous partnership with Citrix were key reasons NetApp was selected.
Webcast and Conference Call Information
NetApp will host a conference call to discuss these results today at 2:30 p.m. Pacific Time. To access the live webcast of this event, visit the NetApp Investor Relations website at in
Most recent headlines
11/12/2025
Dalet, a leading provider of cloud-native, end-to-end media workflow solutions, ...
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. ...
01/12/2025
Many industries have seen big-ticket hardware turn into software. Switchers, though, demand a combination of real-time performance and sheer bandwidth that has ...
01/12/2025
GENEVA Shanghai will host the next quadrennial Radiocommunication Assembly (RA-27) and World Radiocommunication Conference (WRC-27), Oct. 11-Nov. 12, 2027. This...
01/12/2025
NEW YORK Just in time for Giving Tuesday tomorrow (Dec. 2), the Broadcasters Foundation of America is seeking out donations to help television and radio industr...
01/12/2025
STOCKHOLM, Sweden Net Insight CEO Crister Fritzson has informed the company's board that he will retire from the video transport and media cloud technology ...
01/12/2025
01 Dec 2025
Kyivstar and Ukrainian Ministry of Digital Transformation Select Go...
01/12/2025
The prequel to the global hit Sky Original mob crime saga, Gomorrah' is a s...
01/12/2025
Featuring Florence Welch, Red Hot Chilli Peppers' Flea, designer Bella Freud...
01/12/2025
Back to All News
A Down to Earth, All Too Relatable Hero: Cashero' Teaser ...
01/12/2025
In the rush to deliver content to every screen, many broadcasters overlook one of the most crucial steps in the workflow: format and frame rate conversion. Get ...
01/12/2025
Fox Corporation Chief Financial Officer Steve Tomsic to Participate in Upcoming ...
01/12/2025
Arvato Systems' Virtual Private Cloud (VPC) Receives BSI C5 Certification (T...
01/12/2025
Summary This short video gives you an summary of the changes in under two minutes.
--...
01/12/2025
As the festive season approaches, RT Supporting the Arts is proud to showcase a...
01/12/2025
Researchers worldwide rely on open-source technologies as the foundation of their work. To equip the community with the latest advancements in digital and physi...
01/12/2025
Festive specials of Christmas in Kilmainham presented by Marty Whelan, High Road Low Road, Callan Kicks the Year and Keys to My Life
Ring in the New Year with ...
01/12/2025
Architect and television presenter Hugh Wallace, best known to RT audiences as a long-serving judge on Home of the Year, has died at the age of 68.
In a state...
28/11/2025
Nadia Fall attends the 2025 Sundance Film Festival premiere of Brides at the Egyptian Theatre on January 24, 2025, in Park City, Utah. (Photo by Donyale West/...
28/11/2025
It's easy to ignore those little red update available badges. But when it ...
28/11/2025
WASHINGTON Federal Communications Commission has released a tentative agenda for the December Open Commission Meeting scheduled for Thursday, December 18, 2025 ...
28/11/2025
The Professional Fighters League is looking to super-serve fans of mixed martial...
28/11/2025
Fubo has released in beta on select Roku devices a new feature that lets users display up to four simultaneous streams at once....
28/11/2025
The WNBA playoffs and Week 4 of the NFL regular season highlight the list of live sports events airing on television this weekend....
28/11/2025
The 32nd class of honorees to the B+C Hall of Fame took to the stage at New York's Ziegfeld Ballroom on September 26 for a gala induction event. Click below...
28/11/2025
We hold in our hands the very last Next Text for Next TV, the weekly back-and-fo...
28/11/2025
DirecTV said it made a deal with EchoStar to buy EchoStar's video businesses, including satellite-TV provider Dish TV and virtual MVPD Sling TV, for $1 plus...
28/11/2025
The Broadcasting+Cable Hall of Fame, the premier industry event paying tribute to the influencers, innovators and shining lights of broadcast, cable and streami...
28/11/2025
Friday 28 November 2025
Sky Sports x Slawn drop limited-edition football jersey...
28/11/2025
Rohde & Schwarz shows resilience in a challenging environment, revenue exceeds t...
28/11/2025
Unwrapped: The Toy Show Appeal - airing this Sunday on RT One and RT Player- s...
27/11/2025
LONDON Vizrt has added several AI-driven advanced features offering improved speed, intelligence and accuracy in the newest version of its media asset managemen...
27/11/2025
Prime Video has launched AI-powered video season recaps in a beta version for select English-language Prime Original series in the U.S., a move Amazon is callin...
27/11/2025
Back to All News
Netflix's Raat Akeli Hai: The Bansal Murders Marks a Grand...
27/11/2025
27 Nov 2025
GSMA brings M360 Eurasia 2026 to Samarkand in partnership with VEON...
27/11/2025
Tahar Rahim and Izuka Hoyle star in the gripping six-part Sky Original from Acad...
27/11/2025
Thursday 27 November 2025
Sky Arts Reveals the Nation's Greatest Basslines - and Queen Reign Supreme
The UK's most iconic basslines have been revealed...
27/11/2025
Back to All News
Stranger Things 5': Prepare for One Last Adventure With O...
27/11/2025
The media industry has a paradox at its core. It's an industry built on light, color and imagination, yet behind the scenes, it's powered by one of the ...
27/11/2025
Rating reflects rating progress across areas including policies, diversity & inclusion, health & safety and Net Zero leadership
Winchester, UK, 27 November 202...
27/11/2025
What are the industry standards for Retail Media? Kathryn explains that certification is based on the IAB Europe Retail Media Measurement Standards and the IAB ...
27/11/2025
World champion boxer and Irish sporting icon Katie Taylor will be in studio this...
27/11/2025
Roblox, one of the world's most popular online gaming platforms for primary ...
27/11/2025
Black Friday is leveling up. Get ready to score one of the biggest deals of the season - 50% off the first three months of a new GeForce NOW Ultimate membership...
26/11/2025
SVG Sit-Down: Prime Video EP Mike Muriano Previews Massive Black Friday Slate Fe...
August 17, 2016 - View Financial Tables (PDF)
