NetApp Inc. Q3 adjusted earnings Miss Estimates

(RTTNews) - NetApp Inc. (NTAP) reported a profit for its third quarter that advanced from last year.

The company's bottom line came in at $277 million, or $1.21 per share. This compares with $249 million, or $0.98 per share, in last year's third quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $320 million or $1.16 per share for the period.

Analysts had expected the company to earn $1.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.3% to $1.40 billion from $1.56 billion last year.

NetApp Inc. earnings at a glance:

-Earnings (Q3): $320 Mln. vs. $375 Mln. last year. -EPS (Q3): $1.16 vs. $1.20 last year. -Analysts Estimate: $1.18 -Revenue (Q3): $1.40 Bln vs. $1.56 Bln last year.

-Guidance: Next quarter EPS guidance: $1.19 - $1.36 Next quarter revenue guidance: $1.455 - $1.605 Bln