Operating income up 71% to $197.4m
NetApp, a provider of storage and data management offerings, has reported revenue of $1.2bn for the second quarter of fiscal year 2011, an increase of 32% as compared to $910m of the same period last year.
The company posted an operating income of $197.4m for the second quarter of fiscal 2011, an increase of 71% compared to an operating income of $115.4m of Q2 FY10.
For the second quarter of fiscal 2011, NetApp reported a net income of $165m or $0.42 diluted EPS, compared to net income of $96m or $0.27 diluted earnings per share of the same period in the prior year.
The company’s product revenue increased to $780m from $525.1m, software entitlements and maintenance revenue increased to $178m from $170m and services revenue rose to $250m.
NetApp president and CEO Tom Georgens said the company produced 49% year-over-year growth in product revenue and their highest non-GAAP operating margin in over a decade, while simultaneously investing aggressively in their future.
"By offering customers a more flexible and efficient alternative to traditional storage, NetApp further strengthened our leadership position as the platform of choice for the next generation of IT infrastructure," Georgens said.
NetApp expects revenue for the third quarter of fiscal year 2011 to be in the range of $1.24bn and $1.29bn and earnings per share to range between $0.39 and $0.41.