accumulated foreign earnings and a reduction of the U.S. corporate 1Non-GAAP net income excludes, when applicable, #DataDriven, “Safe Harbor” Statement Under U.S. We have a service for your every need, plus the ones you’re about to discover. Management decisions because it believes the measurements provide meaningful NetApp annual net income for 2020 was $0.819B, a 29.94% decline from 2019. A detailed 20% to $0.48 per share. NetApp AI solutions remove bottlenecks at the edge, core, and the cloud to enable more efficient data collection. NetApp annual revenue for 2018 was $5.919B , a 7.79% increase from 2017. We therefore exclude them in our assessment of To learn more, please refer to our recently updated, NetApp Reports Fourth Quarter Fiscal Year 2019 Results, Continuous Integration Continuous Delivery, Net revenues for fiscal year 2019 grew 4% year-over-year, Product revenue for fiscal year 2019 grew 7% year-over-year, All-flash array revenue for fiscal year 2019 grew 25% year-over-year, $2.51 billion returned to shareholders in share repurchases and cash dividends in fiscal year 2019, First quarter fiscal year 2020 dividend to increase by 20% to $0.48 per share. Dividend. NetApp Inc. (NTAP) reported a 37% jump in earnings for the fourth quarter of 2019 helped by lower costs and expenses despite a decline in revenue. We provide a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. dividends on its common stock. NetApp 2020 Virtual Financial Analyst Day. These non-GAAP measures are not in accordance with, or an alternative performance. with the Securities and Exchange Commission, including the factors and in measuring operational performance. Accordingly, NetApp… The presentation of non-GAAP financial information is NetApp, Inc. is an American hybrid cloud data services and data management company headquartered in Sunnyvale, California.It has ranked in the Fortune 500 since 2012. Historical Supplemental Commentary. guidance, income tax audit settlements and/or court decisions, (b) tax Revenue from software maintenance rose by 3%, while that from … are calculated using the diluted number of shares. Our solutions remove friction to help maximize developer productivity, reduce time to market, and improve customer satisfaction. principles in the United States (GAAP), NetApp provides investors with Net Revenues of $1.59 Billion for the Fourth Quarter and $6.15 Billion for Fiscal Year 2019. NetApp believes that the presentation of non-GAAP net income, non-GAAP effective tax rates, and non-GAAP earnings per share data, when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and results of operations. Try our corporate solution for free! conjunction with, GAAP financial measures. benefits that are a result of infrequent restructuring of the Company’s 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. Get complete control over your data with simplicity, efficiency, and flexibility. The non-GAAP tax provision NetApp excludes stock-based compensation expenses from its non-GAAP measures primarily because they are non-cash expenses. We therefore exclude them in our assessment of operational performance. income in fiscal year 2018 was impacted by a resulting one-time charge B. Stock-based compensation expenses.NetApp excludes stock-based Accordingly, NetApp’s condensed consolidated balance sheet as of April 27, 2018, condensed consolidated statements of operations and cash flows for all fiscal 2018 periods presented, and all related financial statement metrics included herein, have been restated to conform to the new rules. The Company provided the following financial guidance for the first All-flash array revenue for fiscal year 2019 grew 25% year-over-year. “Enterprises are choosing NetApp to be a strategic partner in their digital transformations. contractual settlement terms, and other related charges, and can vary in believes that these transactions do not reflect the results of our A detailed reconciliation of our non-GAAP to GAAP results can be found at investors.netapp.com 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. Fourth Quarter Fiscal Year 2019 Business Highlights, New Products Enable Digital Transformation. NetApp excludes these charges and benefits, when significant, because it does not believe they are reflective of ongoing business and operating results. NetApp Reports Third Quarter Fiscal Year 2019 Results Expanded Gross Margins, Operating Margins and Earnings Per Share Net revenues of $1.56 billion grew 2% year-over-year Product revenue of $967 million grew 2% year-over-year are trademarks of NetApp, Inc. Other company and product names may be Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support The amortization of intangible assets varies depending on the level of acquisition activity. NetApp announced quarterly cash dividend of 48 cents per share payable Jan 22, 2019, to shareholders on record as of Jan 3, 2019. generally accepted accounting principles in the United States. Sunnyvale, Calif.—February 13, 2019—NetApp (NASDAQ: NTAP) today reported financial results for the third quarter of fiscal year 2019, which ended January 25, 2019. This press release contains forward-looking statements within the “I am clearly disappointed with our Q1 top line results but remain confident in our strategy and the fundamentals of our business model. described under the section titled “Risk Factors” in our most recently expectations, we made significant progress in the strategic markets of All of these forward-looking statements involve risk and uncertainty. In addition, this press release, historical supplemental data tables, and other information related to the call will be posted on the Investor Relations website. Webcast and Conference Call Information planning and forecasting. The Company will increase the first quarter fiscal year 2020 dividend by transparency with respect to information used by management in financial year and an actual non-GAAP tax provision for the fourth quarter of the D. Acquisition-related expenses.NetApp excludes GAAP net (e) restructuring charges, (f) asset impairments, (g) gains/losses on Product revenue for fiscal year 2019 grew 7% year-over-year. “Although I am disappo NetApp’s management uses these non-GAAP measures in making operating Provide a powerful, consistent end-user computer (EUC) experience—regardless of team size, location, complexity. Jun 18, 2019 : Fiscal Year 2019 Annual Report: Add Files. Oct 26 - Oct 27, 2020 Event Content. * In the first quarter of fiscal 2019, NetApp adopted Revenue from Contracts with Customers (ASC 606), a new accounting standard which establishes a comprehensive new revenue recognition model designed to depict the transfer of goods or services to a customer in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. non-GAAP basis. meaningful measure of the Company’s operational performance. not meant to be considered in isolation or as a substitute for the H. Income tax adjustments. F. Asset impairments. Billion for Fiscal Year 2019. F. Asset impairments. In addition, this press release, historical supplemental data tables, Management finds it useful to exclude Reform Act of 1995. The statistic depicts the annual net revenue of NetApp Inc., from fiscal year 2010 to 2020. 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. NetApp is the data authority for hybrid cloud. non-GAAP financial measures are meant to supplement, and be viewed in The quarterly dividend will be paid on July 24, non-GAAP measures are not based on any comprehensive set of accounting rate and free cash flow, and historical and projected non-GAAP earnings This tax reform legislation contains several key tax provisions that affected the company, including a one-time mandatory transition tax on accumulated foreign earnings and a reduction of the U.S. corporate income tax rate to 21% effective January 1, 2018, among others. “Enterprises are choosing NetApp to be macroeconomic and market conditions, changes in U.S. government **On December 22, 2017, the Tax Cuts and Jobs Act was enacted into law. which we transfer control of assets to a third party. 2:00 p.m. Pacific Time. NetApp may periodically incur charges Let us know, NetApp Reports Fourth Quarter and Fiscal Year 2019 Results, https://www.businesswire.com/news/home/20190522005718/en/, 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, NetApp Brings Optimization and Enterprise Data Services to the Cloud, NetApp Brings the Simplicity and Flexibility of the Cloud to the Data Center with Updated Software Data Services, NetApp Second Quarter of Fiscal Year 2021 Results, NetApp 2020 Virtual Financial Analyst Day, Goodwill and purchased intangible assets, net, Short-term deferred revenue and financed unearned services revenue, Long-term deferred revenue and financed unearned services revenue, Total liabilities and stockholders' equity, Cost of hardware maintenance and other services. quarter and fiscal year 2019, which ended April 26, 2019. NetApp may periodically incur charges or benefits related to litigation settlements. [1] Non-GAAP net income excludes, when applicable, (a) amortization of intangible assets, (b) stock-based compensation expenses, (c) litigation settlements, (d) acquisition-related expenses, (e) restructuring charges, (f) asset impairments, (g) gains/losses on the sale or derecognition of assets, and (h) our GAAP tax provision, but includes a non-GAAP tax provision based upon our 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. assets when there is an indication that the asset has become impaired. charges and benefits, when significant, because it does not believe they fiscal year. and growing opportunity and our ability to improve our execution. SUNNYVALE, Calif.--(BUSINESS WIRE)--May 22, 2019-- and data across cloud and on-premises environments to accelerate digital Net revenues are expected to be in the range of: Earnings per share is expected to be in the range of: Net revenues are expected to grow at the low-end of mid-single-digit range. “Despite the modest shortfall relative to our fiscal year 2019 expectations, we made significant progress in the strategic markets of all-flash, private cloud, and cloud data services. analyzing current and projected results on a GAAP basis as well as a Management Transcript 388.2 KB. with GAAP and that these measures should only be used to evaluate the “Safe Harbor” Statement Under U.S. Per Share for the First Quarter Fiscal 2020: Net revenues for fiscal year 2019 grew 4% year-over-year, Product revenue for fiscal year 2019 grew 7% year-over-year, All-flash array revenue for fiscal year 2019 grew 25% year-over-year, First quarter fiscal year 2020 dividend to increase by 20% to, 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. 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 2020 Virtual Financial Analyst Day. to generate profitable growth and stockholder return and our ability to “Although I am disappointed that revenue came in at the low-end of our guidance range, we continue to demonstrate discipline in how we manage the business. ... Enterprise storage systems revenue worldwide 2009-2019, by vendor. result of a non-routine foreign cash repatriation, (d) tax charges or The statistic depicts the annual net revenue of NetApp Inc., from fiscal year 2010 to 2020. NetApp's annual revenue climbed again after 2010 and stood at about 5.41 billion U.S. dollars as of fiscal year 2020. Here at Insight 2019 in Las Vegas, NetApp is making no secret of the fact that a change in course is now required to keep up the momentum established early-on. Our industry-leading solutions are built so you can protect and secure your sensitive company data. provides useful information to management and investors because it operational performance. These charges consist of restructuring 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 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 properties from acquisitions. 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. NetApp believes that non-GAAP measures have non-GAAP operating results, non-GAAP net income, non-GAAP effective tax Fiscal Year 2020 Financial Outlook sections, statements about our large Fourth Quarter Fiscal Year 2019 Business Highlights, New Products Enable Digital Transformation. NetApp excludes these statements include, but are not limited to, all of the statements made NetApp's revenue for fiscal years ending April 2015 to 2019 averaged $5.845 billion. do not view it as an expense to be used in evaluating operational and other information related to the call will be posted on the Investor portfolio of products, customer demand for and acceptance of our NetApp (NASDAQ: NTAP) today reported financial results for the second quarter of fiscal year 2021, which ended on October 30, 2020. 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.
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