November 13, 2013 - View Financial Tables (PDF)
Non-GAAP Earnings Per Share of $0.66, Up 29% Year over Year
Revenue of $1.550 billion
Branded revenue up 5% year over year
Cash from operations of $363 million; free cash flow 21% of revenue
Over 1,900 Clustered Data ONTAP nodes shipped, up almost 300% year over year
Sunnyvale, Calif.-November 13, 2013-NetApp (NASDAQ: NTAP) today reported 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 were $1.550 billion, an increase of 1% 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,[1] 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,[2] 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.
NetApp is at the forefront of a changing IT landscape, creating opportunity from perceived threats, said Tom Georgens, president and CEO. Though we face an ongoing uncertain macro environment, our solid branded revenue growth and share gains are evidence of the value customers place on our innovative, best-of-breed solutions.
Q3 Fiscal Year 2014 Outlook
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
Business Highlights
In its second quarter of fiscal year 2014, NetApp delivered technology innovation focused on helping customers capitalize on cloud and software-defined data center trends, and once again was recognized as one of the worlds best workplaces. Highlights include:
NetApp Outlines Strategy to Enable Hybrid Cloud Architectures. NetApps strategy is to use the worlds number-one branded storage operating system, Data ONTAP, as a universal data platform to provide seamless cloud management across any blend of private and public cloud resources.
NetApp and Verizon Team on Software-Defined Storage Solutions for New Verizon Cloud. The two companies will collaborate to rearchitect traditional cloud-based storage models to deliver NetApp Data ONTAP as a virtual storage appliance for Verizon Cloud clients. The software will deliver on the promise of software-defined storage, providing additional deployment and management flexibility for clients implementing Verizon Cloud Compute and Verizon Cloud Storage.
NetApp and VMware Help Customers Move to Software-Defined Data Centers. New integrations with VMware vCloud Suite and NetApp clustered Data ONTAP enable nondisruptive migration of data for hundreds of virtual machines at a time, and streamlines provisioning, analysis, data protection, and disaster recovery for virtualized environments, simplifying and accelerating the deployment of software-defined storage in software-defined data center environments.
NetApp Deepens Integration with Oracles Cloud-Enabling Software. The integration can deliver enhanced features for Oracle Database 12c and Oracle Enterprise Manager 12c, allowing customers to centrally manage and maintain control of their data across private, public, and hybrid clouds.
NetApp Helps Orange Business Services Deliver Cloud Solutions. Orange Business Services developed its Flexible Computing solution with NetApp Data ONTAP at its core. As a result, Orange Business Services is able to provide enterprise customers with high-level data availability, helping to establish itself as a leading global IT infrastructure provider with more than 600 Flexible Computing customers worldwide.
NetApp Earns #3 Ranking as Best Place to Work in the World. NetApp placed in the top five on the Worlds Best Multinational Workplaces list for the third consecutive year due to its employee-driven culture. NetApp believes that its culture is a sustainable differentiator and is committed to being a model company that empowers great outcomes for its partners, customers, and investors.
Editors Note
Financial information previously found in the Supplemental Commentary document is now included in the accompanying Supplemental Data tables of the quarterly financial press release.
In addition, historical supplemental data tables, providing historical multi-period financial information, are available on our investor relations website at investors.netapp.com.
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 investors.netapp.com. In addition, this press release and any other information related to the call will be posted on the Investor Relations website. An audio replay will also be available after 4:30 p.m. Pacific Time today on the website.
About NetApp
NetApp creates innovative storage and data management solutions that deliver outstanding cost efficiency and accelerate business breakthroughs. Our co
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...
November 13, 2013 - View Financial Tables (PDF)
