NetApp reports 22% y-o-y net income growth
US unified storage solutions provider NetApp's (Nasdaq: NTAP) net income rose 22% year-on-year to US$192mn in its fiscal 3Q14 ended January 24, according to the firm's latest financial results report.
The result reflected a 72% year-on-year decrease in interest expenses, from US$24mn in 3Q13 to US$6.7mn in 3Q14.
Net revenues declined 1.3% to US$1.61bn due to declines in product, and software entitlements and maintenance revenues. For services however, revenues rose 8% to US$368mn.
Geographically, the Americas accounted for 52% of all revenues, down from 54% in 3Q13. EMEA revenues rose from 32% to 34%, while from Asia Pacific they rose from 13% to 14%.
For 4Q14, the company expects revenues of between US$1.62bn and US$1.72bn and GAAP earnings per share in the range of US$0.57-0.62.
NetApp specializes in enterprise storage and data management solutions, and offers support, consulting and training services. Its Latin American presence includes operations in Brazil, Argentina, Barbados and Mexico.
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