NetApp Inc. Q4 adjusted earnings Miss Estimates

(RTTNews) - NetApp Inc. (NTAP) released a profit for its fourth quarter that rose from the same period last year.

The company's profit totaled $396 million, or $1.59 per share. This compares with $290 million, or $1.06 per share, in last year's fourth quarter.

Excluding items, NetApp Inc. reported adjusted earnings of $305 million or $1.22 per share for the period.

Analysts had expected the company to earn $1.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.0% to $1.59 billion from $1.64 billion last year.

NetApp Inc. earnings at a glance:

-Earnings (Q4): $305 Mln. vs. $307 Mln. last year. -EPS (Q4): $1.22 vs. $1.12 last year. -Analysts Estimate: $1.26 -Revenue (Q4): $1.59 Bln vs. $1.64 Bln last year.