NetApp reported financial results for the third quarter fiscal year 2018, ended January 26, 2018. “NetApp again delivered strong results in the third quarter with accelerating revenue and strong cash generation. It is rewarding to see the results of our improved execution as we transform NetApp to deliver sustained and profitable growth,” said George Kurian, Chief Executive Officer. “We saw a solid demand environment and customer momentum, landing wins and footprint expansions with leading organizations in all geographies. With our Data Fabric Strategy and industry-leading solutions, we are winning new customers and expanding our business opportunity.”
Third Quarter Fiscal 2018 Financial Results – Net Revenues: $1.52 billion, increased 8% year-over-year from $1.40 billion in the third quarter of fiscal 2017; Net Income: GAAP net loss of $506 million, compared to GAAP net income of $146 million in the third quarter of fiscal 2017; non-GAAP net income of $273 million, compared to non-GAAP net income of $231 million in the third quarter of fiscal 2017; Earnings per Share: GAAP net loss per share of $1.89, compared to GAAP net income per share of $0.52 in the third quarter of fiscal 2017; non-GAAP net income per share of $0.99, compared to non-GAAP net income per share of $0.82 in the third quarter of fiscal 2017; Cash, Cash Equivalents and Investments: $5.6 billion at the end of the third quarter of fiscal 2018; Cash from Operations: $420 million, compared to $235 million in the third quarter of fiscal 2017; Share Repurchase and Dividend: Returned $203 million to shareholders through share repurchases and a cash dividend.