NetApp Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - NetApp Inc. (NTAP) reported a profit for first quarter that fell from last year.

The company's bottom line totaled $103 million, or $0.42 per share. This compares with $283 million, or $1.05 per share, in last year's first quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $157 million or $0.65 per share for the period.

Analysts had expected the company to earn $0.58 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 15.6% to $1.24 billion from $1.47 billion last year.

NetApp Inc. earnings at a glance:

-Earnings (Q1): $157 Mln. vs. $281 Mln. last year. -EPS (Q1): $0.65 vs. $1.04 last year. -Analysts Estimate: $0.58 -Revenue (Q1): $1.24 Bln vs. $1.47 Bln last year.

-Guidance: Next quarter EPS guidance: $0.91 - $0.99 Next quarter revenue guidance: $1.325 - $1.475 Bln