NetApp First Quarter of Fiscal Year 2020 Results . F. Asset impairments. Revenue, operating margin and EPS all exceeded our … Earnings Slides. These non-GAAP financial measures are used to: (1) measure company performance against historical results, (2) facilitate comparisons to our competitors’ operating results and (3) allow greater transparency with respect to information used by management in financial and operational decision making. NetApp (NASDAQ: NTAP) today reported financial results for the fourth quarter and fiscal year 2020, which ended on April 24, 2020. NetApp’s non-GAAP tax provision is based upon a projected annual non-GAAP effective tax rate for the first three quarters of the fiscal year and an actual non-GAAP tax provision for the fourth quarter of the fiscal year. Historical Supplemental Commentary. Mature now includes Hybrid FAS products, including all related add-on hardware and OS software, OEM products, and branded E-Series. SUNNYVALE, Calif.—August 14, 2019 —NetApp (NASDAQ: NTAP) today reported financial results for the first quarter of fiscal year 2020, which ended on July 26, 2019. NetApp Fourth Quarter and Fiscal Year 2020 Results. While management views stock-based compensation as a key element of our employee retention and long-term incentives, we do not view it as an expense to be used in evaluating operational performance in any given period. Net revenues are expected to be in the range of: Earnings per share is expected to be in the range of: NetApp is architecting application-integrated data management for Kubernetes with, NetApp announced an integrated solution for End User Computing (EUC), NetApp launched a clustered architecture consisting of, NetApp helps customers respond to the surge in remote work and the strains being put on IT organizations with, NetApp teams across the company engaged together to scale infrastructures to support thousands of, Q3 FY 2021 results target date: February 24, 2021, Q4 FY 2021 results target date: June 2, 2021, Q1 FY 2022 results target date: August 25, 2021, Q2 FY 2022 results target date: November 30, 2021. Data Provided by Refinitiv. Non-GAAP Income from Operations, Income before Income Taxes & Effective Tax Rate, Non-GAAP Weighted Average Common Shares Outstanding, Diluted, Deferred Revenue and Financed Unearned Services Revenue. SUNNYVALE, Calif.--(BUSINESS WIRE)--NetApp (NASDAQ: NTAP) today reported financial results for the third quarter of fiscal year 2020, which ended on January 24, 2020. These statements include, but are not limited to, all of the statements made in the First Quarter of Fiscal Year 2021 Financial Outlook section, and statements about the strength and resiliency of our business model, the demand for our products and services, and our ability to execute our strategy. C. Litigation settlements. The company recorded $1.42bn in revenues for the second fiscal 2021 quarter ended October 30, 2020,three per cent higher than a year ago and above guidance. H. COVID-19 charges. Lance Berger1 408 822 6628 “During this unprecedented situation, our priority has been supporting our … NetApp’s management uses these non-GAAP measures in making operating decisions because it believes the measurements provide meaningful supplemental information regarding NetApp’s ongoing operational performance. Just like STX, NTAP is seeing the return of data-center demand. “We executed well in the first quarter. Cash, cash equivalents and restricted cash: (In millions except net income per share, percentages, DSO, DIO, DPO, CCC and Inventory Turns). Cost of hardware maintenance and other services revenues adjustment: Non-GAAP cost of hardware maintenance and other services revenues, Hardware maintenance and other services revenues, RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES, RECONCILIATION OF NON-GAAP GUIDANCE TO GAAP, Adjustments of Specific Items to Net Income. First quarter fiscal year 2020 dividend to increase by 20% to $0.48 per share Sunnyvale, Calif.—May 22, 2019 —NetApp (NASDAQ: NTAP) today reported financial results for the fourth quarter and fiscal year 2019, which ended April 26, 2019. “ Our third quarter results, highlighted by strong gross margins, cash flow and operating leverage, reflect our continued operational discipline. Revenue totaled $1.42 billion, up from $1.37 billion a year earlier. Earnings Slides. Inventory turns is defined as annualized cost of revenues divided by net inventories. “During this unprecedented situation, our priority has been supporting our employees, customers, partners, and communities. The presentation of non-GAAP financial information is not meant to be considered in isolation or as a substitute for the directly comparable financial measures prepared in accordance with generally accepted accounting principles in the United States. “I am clearly disappoi Net income fell 43.6 per cent to $137m. SUNNYVALE, Calif.–(BUSINESS WIRE)–NetApp (NASDAQ: NTAP) today reported financial results for the second quarter of fiscal year 2021, which ended on October 30, 2020. NetApp (NTAP) delivered earnings and revenue surprises of 45.83% and 8.00%, respectively, for the quarter ended October 2020. Data Provided by Refinitiv. Minimum 15 minutes delayed. Data Provided by Refinitiv. NetApp Inc (NASDAQ:NTAP) over-valued by 10% Website //www.netapp.com Sector Technology Industry Computer Hardware Fiscal Year End Apr 24, 2020 Market Cap $12,290,196,500 Beta 1.2767 Average Volume $2,457,683 Last Dividend 1.92% Price on Jun 15, 2020 $55.36 Autochartist™ Valuation $49.71 Conclusion 10% over-valued Download Report Private Securities Litigation Reform Act of 1995. Despite the challenging environment, we delivered solid gross margin, cash flow and operating leverage in the fourth quarter. But the EPS was sufficient to pay its annual dividend per share of $1.92. SUNNYVALE, Calif.—August 26, 2020— NetApp (NASDAQ: NTAP) today reported financial results for the first quarter of fiscal year 2021, which ended on July 31, 2020. Strategic now includes All-flash FAS products, including all related add-on hardware and OS software, private cloud solutions, enterprise software license agreements and other optional add-on software products. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. 2019. “In the second quarter, NetApp again delivered strong results, successfully executing against our plan to scale our cloud business while growing in the storage market. Dec 1, 2020 2:00 PM PST Press Release. Prepared Remarks. * In Q1 FY’20 we made changes to the products and solutions contained in each of the Strategic and Mature product groupings. NetApp’s management uses these non-GAAP measures in making operating decisions because it believes the measurements provide meaningful supplemental information regarding NetApp’s ongoing operational performance. Management believes that these transactions do not reflect the results of our underlying, on-going business and, therefore, cannot be relied upon for future planning or forecasting. NetApp (NTAP) Q4 2020 Earnings Call Transcript NTAP earnings call for the period ending September 30, 2020. Cash conversion cycle (CCC) is defined as DSO plus DIO minus DPO. NetApp will announce financial results for the fourth quarter and fiscal year 2020, which ended April 24, 2020, after market close on Wednesday, May 27, 2020. “Safe Harbor” Statement Under U.S. SUNNYVALE, Calif.--(BUSINESS WIRE)--May 27, 2020-- NetApp(NASDAQ: NTAP) today reported financial results for the fourth quarter and fiscal year 2020, which ended on April 24, 2020. “During this unprecedented situation, our priority has been supporting our … To access the live webcast of this event, go to the NetApp Investor Relations website at investors.netapp.com. Press Release. Minimum 15 minutes delayed. NetApp Fourth Quarter and Fiscal Year 2019 Results. In addition, this press release, historical supplemental data tables, and other information related to the call will be posted on the Investor Relations website. Minimum 15 minutes delayed. … Learn more at www.netapp.com. All of these forward-looking statements involve risk and uncertainty. amelia.vierra@netapp.com Further, for fiscal 2020, NetApp anticipated net revenues to decline 8% from fiscal 2019. “Our third quarter results, highlighted by strong gross margins, cash flow and operating leverage, reflect our continued operational discipline. “Our third quarter results, highlighted by strong gross margins, cash flow and operating leverage, reflect our continued operational discipline. Some items may not add or recalculate due to rounding. NetApp excludes acquisition-related expenses, including (a) due diligence, legal and other one-time integration charges and (b) write down of assets acquired that NetApp does not intend to use in its ongoing business, from its non-GAAP measures, primarily because they are not related to our ongoing business or cost base and, therefore, cannot be relied upon for future planning and forecasting. NetApp excludes the following items from its non-GAAP measures when applicable: A. The amortization of intangible assets varies depending on the level of acquisition activity. NetApp has posted its second successive quarter of revenue growth, thanks to an unexpected boost in high-end all-flash storage array sales. Fourth Quarter. Let us know, NetApp Second Quarter of Fiscal Year 2021 Results, NetApp 2020 Virtual Financial Analyst Day, NetApp Reports Second Quarter of Fiscal Year 2021 Results, NetApp to Participate in Upcoming Virtual Investor/Technology Conferences, NetApp Hosts Second Quarter of Fiscal Year 2021 Financial Results Webcast, Q3 FY 2021 results target date: February 24, 2021, Q4 FY 2021 results target date: June 2, 2021, Q1 FY 2022 results target date: August 25, 2021, Q2 FY 2022 results target date: November 30, 2021. Days payables outstanding (DPO) is defined as accounts payable divided by cost of revenues, multiplied by the number of days in the quarter. To supplement NetApp’s condensed consolidated financial statement information presented in accordance with generally accepted accounting principles in the United States (GAAP), NetApp provides investors with certain non-GAAP measures, including, but not limited to, historical non-GAAP operating results, non-GAAP net income, non-GAAP effective tax rate and free cash flow, and historical and projected non-GAAP earnings per diluted share. D. Acquisition-related expenses. Data Provided by Refinitiv. Our cloud business grew substantially and our new customer acquisition districts again performed well,” said George Kurian, chief executive officer. We are confident that the demand for our products and services will be strong as we emerge from this crisis.”, Fourth Quarter of Fiscal Year 2020 Financial Results, First Quarter of Fiscal Year 2021 Financial Outlook. The stock price fall since 2018-end came due to a 9% drop in revenue from $5.9 billion in 2018 to $5.4 billion in 2020 (NTAP’s fiscal year ends in April). NetApp and the NetApp logo and the marks listed at http://www.netapp.com/TM are trademarks of NetApp, Inc. Other company and product names may be trademarks of their respective owners. Press Release . As free cash flow is not a measure of liquidity calculated in accordance with GAAP, free cash flow should be considered in addition to, but not as a substitute for, the analysis provided in the statement of cash flows. 3Google Cloud 2019 Partner Awards, https://cloud.google.com/blog/topics/partners/announcing-the-winners-of-our-2019-partner-awards?linkId=85936877. NetApp has excluded certain non-recurring expenses incurred as a direct result of the COVID-19 pandemic. This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Management finds it useful to exclude these non-cash charges due to the unpredictability of these events in its assessment of operational performance. B. Stock-based compensation expenses. Data Provided by Refinitiv. NetApp is the leader in cloud data services, empowering global organizations to change their world with data. NetApp believes that the presentation of free cash flow, which it defines as the net cash provided by operating activities less cash used to acquire property and equipment, to be a liquidity measure that provides useful information to management and investors because it reflects cash that can be used to, among other things, invest in its business, make strategic acquisitions, repurchase common stock, and pay dividends on its common stock. These and other equally important factors are described in reports and documents we file from time to time with the Securities and Exchange Commission, including the factors described under the section titled “Risk Factors” in our most recently submitted annual reports on Form 10-Q and 10-K. We disclaim any obligation to update information contained in this press release whether as a result of new information, future events, or otherwise. “In th NetApp believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company’s results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate the Company’s results of operations in conjunction with the corresponding GAAP measures. The non-GAAP tax provision also excludes, when applicable, (a) tax charges or benefits in the current period that relate to one or more prior fiscal periods that are a result of events such as changes in tax legislation, authoritative guidance, income tax audit settlements, statute lapses and/or court decisions, (b) tax charges or benefits that are attributable to unusual or non-recurring book and/or tax accounting method changes, (c) tax charges that are a result of a non-routine foreign cash repatriation, (d) tax charges or benefits that are a result of infrequent restructuring of the Company’s tax structure, (e) tax charges or benefits that are a result of a change in valuation allowance, and (f) tax charges resulting from the integration of intellectual property from acquisitions. 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