NetApp Earnings Increase

SUNNYVALE, Calif. -- NetApp (NASDAQ: NTAP) today reported results for the second fiscal quarter of 2009. Revenues for the second fiscal quarter of 2009 were $912 million, an increase of 15% compared to revenues of $792 million for the same period a year ago.

For the second fiscal quarter of 2009, GAAP net income was $49 million, or $0.15 per share1 compared to GAAP net income of $84 million, or $0.23 per share for the same period in the prior year. Non-GAAP2 net income for the second fiscal quarter of 2009 was $92 million, or $0.28 per share, compared to non-GAAP net income of $116 million, or $0.32 per share for the same period a year ago.

Revenues for the first six months of the current fiscal year totaled $1.78 billion, compared to revenues of $1.48 billion for the first six months of the prior year, an increase of 20% year over year.

GAAP net income for the first six months of the current fiscal year totaled $87 million, or $0.26 per share, compared to GAAP net income of $118 million, or $0.32 per share for the first six months of the prior fiscal year. Non-GAAP net income for the first six months of the current fiscal year totaled $168 million, or $0.50 per share, compared to non-GAAP net income of $192 million, or $0.52 per share for the first six months of the prior fiscal year.

NetApp produced solid revenue and earnings results despite a challenging economic environment,” said Dan Warmenhoven, chairman and CEO. “More and more customers are turning to NetApp to drive down their storage costs by increasing their storage utilization. We expect NetApp's unique storage efficiency offerings to resonate well with customers, particularly during periods of constrained IT spending.”

NetApp Inc.