Amortization of intangible assets. considered in addition to, but not as a substitute for, the analysis “Safe Harbor” Statement Under U.S. In 2020, NetApp generated around 2.9 billion U.S. dollars in revenue from sales in the Americas. operating activities: Changes in assets and liabilities, net of acquisitions of of intangible assets that were acquired in connection with its business H. Income tax adjustments. spending, revenue seasonality and matters specific to our business, such the sale or derecognition of assets, and (h) our GAAP tax provision, but 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. Contracts with Customers (ASC 606) using the full retrospective also excludes, when applicable, (a) tax charges or benefits in the Oct 26 - Oct 27, 2020 Event Content. “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. NetApp announced quarterly cash dividend of 48 cents per share payable Jan 22, 2019, to shareholders on record as of Jan 3, 2019. principles in the United States (GAAP), NetApp provides investors with Founded in 1992 with an IPO in 1995, NetApp offers hybrid cloud data services for management of applications and data across cloud and on-premises environments. 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. These are non-cash charges to write down NetApp 2020 Virtual Financial Analyst Day. In addition, this press release, historical supplemental data tables, Founded in 1992 with an IPO in 1995, NetApp offers hybrid cloud data services for management of applications and data across cloud and on-premises environments. Earnings per share is expected to be in the range of: $0.96-$1.02. Data Provided by Refinitiv. Total Revenues for NetApp have largely been rangebound, hovering around the $1.50 billion mark over the last few quarters. non-GAAP financial measures are meant to supplement, and be viewed in xdl-uspr@netapp.com, Net Revenues of $1.59 Billion for the Fourth Quarter and $6.15 Billion for Fiscal Year 2019. conjunction with the corresponding GAAP measures, provides useful 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. 6628lance.berger@netapp.com, Have feedback for our website? Conversely, NetApp’s revenue from mature solutions accounts for 28% of the total revenue in fiscal 2019, a decline when compared to its 30% contribution in fiscal 2018. These non-GAAP measures are not in accordance with, or an alternative and in measuring operational performance. Media Contacts planning and forecasting. “Enterprises are choosing NetApp to be a strategic partner in their digital transformations. NetApp (NASDAQ: NTAP) today reported financial results for the fourth quarter and fiscal year 2020, which ended on April 24, 2020. customer touchpoints, foster greater innovation, and optimize their performance in any given period. The Company will increase the first quarter fiscal year 2020 dividend by factors are described in reports and documents we file from time to time fiscal year 2020: • Net revenues are expected to grow at the low-end of Our Data Fabric ... Enterprise storage systems revenue worldwide 2009-2019, by vendor. We provide a full range Oct 26 - Oct 27, 2020 Event Content. The statistic depicts the annual net revenue of NetApp Inc., from fiscal year 2010 to 2020. acquisition-related expenses, including (a) due diligence, legal and This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. E. Restructuring charges. guidance, income tax audit settlements and/or court decisions, (b) tax 408.822.3287 benefits that are a result of infrequent restructuring of the Company’s 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. These statements include, but are not limited to, all of the statements made under the First Quarter Fiscal Year 2020 Financial Outlook and Full Fiscal Year 2020 Financial Outlook sections, statements about our large and growing opportunity and our ability to improve our execution. SUNNYVALE, Calif.--(BUSINESS WIRE)--May 22, 2019-- Webcast and Conference Call Information these forward-looking statements involve risk and uncertainty. #DataDriven, NetApp uses cookies and similar technologies to improve and customize your online experience. performance. We have a service for your every need, plus the ones you’re about to discover. *In the first quarter of fiscal 2019, NetApp adopted Revenue from Contracts with Customers (ASC 606) using the full retrospective method of adoption. of hybrid cloud data services that simplify management of applications We therefore exclude them in our assessment of operational performance. NetApp Q1 2019 Earnings Infographics. 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 To access the live webcast of this event, go to company performance against historical results, (2) facilitate About NetApp gains/losses from the sale of our properties and other transactions in meaningful measure of the Company’s operational performance. NetApp shares are down 2.41% from the beginning of the year , still down 22.46% from its 52 week high of $78.35 set on April 17, 2019. underlying, on-going business and, therefore, cannot be relied upon for believes that the use of non-GAAP tax provisions provides a more Management finds it useful to exclude NetApp’s management uses these non-GAAP measures in making operating results may differ materially from these statements for a variety of In addition, these Management information presented in accordance with generally accepted accounting In FY 2020, NetApp generated 5.41 billion U.S. dollars in revenue. integration of intellectual properties from acquisitions. operational performance. NetApp may periodically incur charges Our opportunity is 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. Management finds it useful to exclude these non-cash charges due to the Net Revenues of $1.59 Billion for the Fourth Quarter and $6.15 G. Gains/losses on the sale or derecognition of assets. NetApp revenue increased from $5.9 billion in 2018 to $6.1 billion in 2019, a 4% increase. NetApp believes that the presentation of free cash flow, which it The revenues stood at $1.56 billion in Q3 fiscal 2019… meaning of the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements within the book and/or tax accounting method changes, (c) tax charges that are a The Company provided the following financial guidance for the first quarter of fiscal year 2020: Full Fiscal Year 2020 Financial Outlook Historical Supplemental Commentary. Reform Act of 1995. NetApp r eported its lowest full-year revenue since 2011 with fiscal year 2020 revenue of $5.41 billion, down 12% from the $6.15 million it reported for fiscal year 2019.. This tax reform legislation contains several key tax provisions that Our opportunity is large and growing, and we are moving quickly to improve our execution.”, Fourth Quarter Fiscal Year 2019 Financial Results*. The to conform to the new rules. operations. sheet as of April 27, 2018, condensed consolidated statements of Transcript 388.2 KB. H. Income tax adjustments. $1.12-$1.18. For more information, visit www.netapp.com. NetApp™ cloud data services annualized recurring revenue of approximately $111 million, an increase of 113% year-over-year All flash array annualized net revenue run rate of $2.6 billion Consolidated GAAP gross margin of 66.9% in fiscal year 2020; non-GAAP gross margin of 67.9% While management views stock-based compensation are calculated using the diluted number of shares. “Enterprises are choosing NetApp to be unpredictability of these events in its assessment of operational result of a non-routine foreign cash repatriation, (d) tax charges or 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. Relations website. plans, Proceeds from (repayments of) commercial paper notes, net, Non-GAAP Weighted Average Common Shares Outstanding, Diluted, Deferred Revenue and Financed Unearned Services Revenue, Net Cash Provided by Operating Activities, GAAP cost of hardware maintenance and other services revenues. rules or principles. D. Acquisition-related expenses.NetApp excludes The amortization of intangible assets varies depending on the level of acquisition activity. NetApp (NASDAQ: NTAP) today reported financial results for the third quarter of fiscal year 2019, which ended January 25, 2019. are trademarks of NetApp, Inc. Other company and product names may be An audio replay will be available on the website 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 reports on 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. Actual results may differ materially from these statements for a variety of reasons, including, without limitation, general global political, macroeconomic and market conditions, changes in U.S. government spending, revenue seasonality and matters specific to our business, such as our ability to expand our total available market and grow our portfolio of products, customer demand for and acceptance of our products and services, our ability to successfully execute new business models, our ability to successfully execute on our Data Fabric strategy to generate profitable growth and stockholder return and our ability to manage our gross profit margins. The non-GAAP tax provision expenses, (c) litigation settlements, (d) acquisition-related expenses, The presentation of non-GAAP financial information is expectations, we made significant progress in the strategic markets of trademarks of their respective owners. The segment accounted for a little under 60% of the company’s total revenues in fiscal 2019. An audio replay will be available on the website after 4:00 p.m. Pacific Time today. NetApp (NTAP) delivered earnings and revenue surprises of -2.40% and -3.36%, respectively, for the quarter ended April 2019. performance. 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. 2019. NetApp will host a conference call to discuss these results today at B. Stock-based compensation expenses. Total Revenues for NetApp have largely been rangebound, hovering around the $1.50 billion mark over the last few quarters. Build your business on the best of cloud and on-premise together with Hybrid Cloud Infrastructure solutions. supplemental information regarding NetApp’s ongoing operational from non-GAAP measures used by other companies. At this time, all participants are in a listen-only mode. We therefore exclude them in our assessment of limitations in that they do not reflect all of the amounts associated not meant to be considered in isolation or as a substitute for the current period that relate to one or more prior fiscal periods that are 20% to $0.48 per share. Net Revenues of $1.59 Billion for the Fourth Quarter and $6.15 Billion for Fiscal Year 2019. Billion for Fiscal Year 2019. 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. Fourth Quarter Fiscal Year 2019 Business Highlights, New Products Enable Digital Transformation. 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 INSIGHT 2020 Digital Event. To supplement NetApp’s condensed consolidated financial statement NetApp INSIGHT 2020 Digital Event. size and frequency. 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. Amortization of intangible assets.NetApp records amortization NetApp net income for the twelve months ending October 31, 2020 was $687M, a 30.68% decline year-over-year. Product revenues for the third quarter increased 20% year-over-year helped by a rise in revenue from strategic product and higher mature product revenues. decisions because it believes the measurements provide meaningful NetApp excludes these contractual settlement terms, and other related charges, and can vary in 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. NetApp annual revenue for 2020 was $5.412B, a 11.94% decline from 2019. Some items may not add or recalculate due to rounding. trends relating to its financial condition and results of operations. NetApp (NASDAQ: NTAP) today reported financial results for the fourth B. Stock-based compensation expenses.NetApp excludes stock-based a strategic partner in their digital transformations. The statistic depicts the annual net revenue of NetApp Inc from fiscal year 2010 to 2020, by segment. GAAP net income in fiscal year 2018 was impacted by a resulting one-time charge of approximately $850 million. 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. Jun 19, 2018 : Fiscal Year 2018 Annual Report: Add Files. Management NetApp Fourth Quarter and Fiscal Year 2019 Results. provided in the statement of cash flows. NetApp makes additional adjustments to the non-GAAP tax for the fourth quarter of the fiscal year. under the First Quarter Fiscal Year 2020 Financial Outlook and Full The Company will increase the first quarter fiscal year 2020 dividend by 20% to $0.48 per share. non-GAAP measures are not based on any comprehensive set of accounting and other information related to the call will be posted on the Investor “Although I am disappo defines as the net cash provided by operating activities less cash used A detailed tax structure, (e) tax charges or benefits that are a result of a change mid-single-digit range. The statistic depicts the annual net revenue of NetApp Inc., from fiscal year 2010 to 2020. of approximately $850 million. all-flash, private cloud, and cloud data services. GAAP measures. macroeconomic and market conditions, changes in U.S. government CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS, CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS. [2]GAAP net income per share and non-GAAP net income per share are calculated using the diluted number of shares. per diluted share. NetApp excludes the following items from its non-GAAP measures when applicable: A. quarter and fiscal year 2019, which ended April 26, 2019. NetApp Usage of Non-GAAP Financial Information method of adoption. 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. NetApp annual revenue for 2018 was $5.919B , a 7.79% increase from 2017. NetApp makes additional adjustments to the non-GAAP tax provision for certain tax matters as described below. Our solutions remove friction to help maximize developer productivity, reduce time to market, and improve customer satisfaction. The quarterly dividend will be paid on July 24, 2019, to shareholders of record as of the close of business on July 5, 2019. circumstances of restructuring decisions, including employment and rate and free cash flow, and historical and projected non-GAAP earnings NetApp 2020 Virtual Financial Analyst Day. Dividend. large and growing, and we are moving quickly to improve our execution.”, Fourth Quarter Fiscal Year 2019 Financial Results*. Shares used in net income per share calculations: Net cash provided by operating activities, Redemptions (purchases) of investments, net, Acquisitions of businesses, net of cash acquired, Net cash provided by (used in) investing activities, Proceeds from issuance of common stock under employee stock award ... NetApp. to generate profitable growth and stockholder return and our ability to NetApp excludes the following items from its non-GAAP measures when The non-GAAP financial measures are meant to supplement, and be viewed in conjunction with, GAAP financial measures. Adjustments to reconcile net income to net cash provided by for, measures prepared in accordance with GAAP, and may be different These charges consist of restructuring 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. information to investors and management regarding financial and business These are non-cash charges to write down assets when there is an indication that the asset has become impaired. dividends on its common stock. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. are non-cash expenses. NetApp's annual revenue climbed again after 2010 and stood at about 5.41 billion U.S. dollars as of fiscal year 2020. Deferred revenue … Do the numbers hold clues to what lies ahead for the stock? NetApp™ cloud data services annualized recurring revenue of approximately $72 million, an increase of 167% year-over-year Consolidated GAAP gross margin of 67.5%, non-GAAP gross margin of 68.6% GAAP product gross margin of 55.8%, non-GAAP product gross margin of 57.3% $611 million returned to shareholders in share repurchases and cash dividends combinations. Revenue from software maintenance rose by 3%, while that from … non-GAAP effective tax rate for the first three quarters of the fiscal These Product revenue increased from $3.0 billion in fiscal 2017 to … products and services, our ability to successfully execute new business Accordingly, NetApp… Get complete control over your data with simplicity, efficiency, and flexibility. (e) restructuring charges, (f) asset impairments, (g) gains/losses on Welcome to NetApp's Fourth Quarter and Fiscal Year 2019 Financial Results Conference Call. Next cash dividend of $0.40 per share to be paid on January 23, 2019, to shareholders of record as of the close of business on January 4, 2019. To exclude these non-cash charges due to the unpredictability of these events in assessment... In conjunction with, GAAP financial measures for certain tax matters as described below plus the ones you re... Closing this banner or netapp revenue 2019 browsing this site, you agree and the... 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