Net revenues are expected to be in the range of: Earnings per share is expected to be in the range of: NetApp acquired a leading virtual desktop infrastructure (VDI) player, NetApp is expanding its partner-first approach with updates to the. In addition, this press release, historical supplemental data tables, and other information related to the call will be posted on the Investor Relations website. Press Release. December 1, 2020. 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. SUNNYVALE, Calif.—December 2, 2020— NetApp (NASDAQ: NTAP) today reported financial results for the second quarter of fiscal year 2021, which ended on October 30, 2020. NetApp has excluded certain non-recurring expenses incurred as a direct result of the COVID-19 pandemic. Footnotes “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. By closing this banner or by browsing this site, you agree and accept the use of cookies. NetApp makes additional adjustments to the non-GAAP tax provision for certain tax matters as described below. “ We executed well in the first quarter. Secondary # - … 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 such nonrecurring costs do not reflect the results of its underlying, on-going business and, therefore, cannot be relied upon for future planning or forecasting. To access the live webcast of this event, go to the NetApp Investor Relations website at investors.netapp.com. First Quarter of Fiscal Year 2021 Business Highlights, Delivering Groundbreaking Product Innovations. Income tax adjustments. All-flash array annualized net revenue run rate of $2.5 billion, an increase of 15% year-over-year. Live Teleconference Information. All of these forward-looking statements involve risk and uncertainty. NetApp (NASDAQ: NTAP) today reported financial results for the second quarter of fiscal year 2021, which ended on October 30, 2020. Together with our partners, we are the only ones who can help you build your unique data fabric. Prepared Remarks. A detailed reconciliation of our non-GAAP to GAAP results can be found at investors.netapp.com. My name is Joel, and I will be your conference call coordinator for today. NetApp is uniquely positioned to help our customers unlock the best of cloud.” First Quarter of Fiscal Year 2021 Financial Results. NetApp Hosts First Quarter of Fiscal Year 2021 Financial Results Webcast After market close on Wednesday, August 26, 2020, NetApp (NASDAQ: NTAP) … Secondary # - … NetApp fiscal quarters are: Quarter Three: November 2, 2020 through January 29, 2021 Quarter Four: February 1, 2021 through April 30, 2021 Quarter One: May 3, 2021 through July 30, 2021 Quarter Two: August 2, 2021 through October 29, 2021 Earnings Summary. NetApp First Quarter of Fiscal Year 2021 Results. NetApp approximates billings by adding net revenues as reported on our Condensed Consolidated Statements of Operations for the period to the change in total deferred revenue and financed unearned services revenue as reported on our Condensed Consolidated Statements of Cash Flows for the same period. 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 Reports First Quarter of Fiscal Year 2021 Results Net Revenues of $1.30 Billion; Up 5% Year-over-Year NetApp™public cloud services annualized recurring revenue of $178 million, an increase of 192% year-over-year All-flash array annualized net revenue run rate of $2.3 … Private Securities Litigation Reform Act of 1995 Revenue, operating margin and EPS all exceeded our … NetApp is the proven leader when it comes to modernizing and simplifying your storage environment. Historical Supplemental Commentary. SUNNYVALE, Calif.—December 1, 2020—NetApp (NASDAQ: NTAP) today reported financial results for the second quarter of fiscal year 2021, which ended on October 30, 2020. We therefore exclude them in our assessment of operational performance. 16/09/2020. The next cash dividend of $0.48 per share is to be paid on January 27, 2021, to shareholders of record as of the close of business on January 8, 2021. LINK: ... See more stories from netapp: Most recent headlines. These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with GAAP, and may be different from non-GAAP measures used by other companies. NetApp executive management will host a conference call at 2:00 p.m. Pacific Time to discuss these results and provide their perspective on … Speed application development, improve software quality, reduce business risk, and shrink costs. NETAPP SECOND QUARTER OF FISCAL YEAR 2021 PREPARED REMARKS DECEMBER 1, 2020 Prepared remarks by: Kris Newton, VP, Investor Relations George Kurian, Chief Executive Officer Mike Berry, EVP and Chief Financial Officer Kris: Thank you for joining us. These charges consist of restructuring charges that are incurred based on the particular facts and circumstances of restructuring decisions, including employment and contractual settlement terms, and other related charges, and can vary in size and frequency. NetApp Fourth Quarter and Fiscal Year 2020 Results. Build your business on the best of cloud and on-premise together with Hybrid Cloud Infrastructure solutions. Second Quarter of Fiscal Year 2021 Financial Outlook Sil Geurtsen Appointed Head of Programme Development at EndemolShine Nederland F. Asset impairments. 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. Minimum 15 minutes delayed. This The company provided the following financial guidance for the second quarter of fiscal year 2021: Dividend To learn more, please refer to our recently updated, NetApp Reports First Quarter of Fiscal Year 2021 Results, Continuous Integration Continuous Delivery, NetApp™ public cloud services annualized recurring revenue of $178 million, an increase of 192% year-over-year, All-flash array annualized net revenue run rate of $2.3 billion, an increase of 34% year-over-year, Completed Spot and CloudJumper acquisitions, further extending our customer value proposition in the cloud, $107 million returned to shareholders in cash dividend. Because our revenue recognition policy under GAAP defines a configured storage system, inclusive of the operating system software essential to its functionality, as a single performance obligation, hardware and software components of our product revenues are considered non-GAAP measures. After market close on Wednesday, August 26, 2020, NetApp (NASDAQ: NTAP) will announce financial results for the first quarter of fiscal year 2021, which ended July 31, 2020. NetApp Usage of Non-GAAP Financial Information Good day, ladies and gentlemen, and welcome to the NetApp first-quarter fiscal-year 2021 conference call. NetApp believes that the presentation of the software and hardware components of our product revenues is meaningful to investors and management as it illustrates the significance of the Company’s software and provides improved visibility into the value created by our software innovation and R&D investment. NetApp AI solutions remove bottlenecks at the edge, core, and the cloud to enable more efficient data collection. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. NetApp (NASDAQ: NTAP) today reported financial results for the second quarter of fiscal year 2021, which ended on October 30, 2020. Webcast and Conference Call Information [2]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, (h) COVID-19 charges and (i) 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. About NetApp PR Hotline: Earnings Summary. Fourth Quarter. NetApp also presents the hardware and software components of our GAAP product revenues. Historical Supplemental Commentary. 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 report on Form 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. NetApp uses cookies and similar technologies to improve and customize your online experience. $107 million returned to shareholders in cash dividend NetApp (NASDAQ: NTAP) today reported financial results for the first quarter of fiscal year … George Kurian, NetApp’s CEO, expressed optimism regarding the potentials of all-flash arrays and hybrid cloud options in the future, reported CRN. Get complete control over your data with simplicity, efficiency, and flexibility. 408.822.3287 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 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. NetApp (NASDAQ: NTAP) today reported financial results for the second quarter of fiscal year 2021, which ended on October 30, 2020. Second Quarter of Next cash dividend of $0.48 per share to be paid on October 28, 2020, to shareholders of record as of the close of business on October 9, 2020. NetApp management compensates for these limitations by analyzing current and projected results on a GAAP basis as well as a non-GAAP basis. Amortization of intangible assets. NetApp Hosts Second Quarter of Fiscal Year 2021 Financial Results Webcast November 05, 2020 05:04 PM Eastern Standard Time SUNNYVALE, Calif.-- (BUSINESS WIRE)- … Learn more at www.netapp.com. Press Release. Webcast. Webcast. NetApp ™ public cloud services annualized revenue run rate of $216 million, an increase of 200% year-over-year. “We are building on a strong foundation of industry-leading data-centric software innovation, trusted customer relationships and an open-ecosystem approach that is strengthened by partnerships with the leading public cloud companies who endorse our Data Fabric Strategy. Transcript 343.9 KB. 17/09/2020. NetApp Second Quarter of Fiscal Year 2021 Results. SUNNYVALE, Calif.--(BUSINESS WIRE)--NetApp (NASDAQ: NTAP) today reported financial results for the first quarter of fiscal year 2021, which ended on July 31, 2020. 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. NetApp (NASDAQ: NTAP) today reported financial results for the first quarter of fiscal year 2021, which ended on July 31, 2020. The hardware and software components of our product revenues are derived from an estimated fair value allocation of the transaction price of our contracts with customers, down to the level of the product hardware and software components. 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. H. COVID-19 charges. 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. 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. “We executed well in the first quarter. After market close on Tuesday, December 1, 2020, NetApp will announce financial results for the second quarter of fiscal year 2021, which ended October 30, 2020. 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. NetApp excludes these charges and benefits, when significant, because it does not believe they are reflective of ongoing business and operating results. Dec 1, 2020 2:00 PM PST Press Release. Financial Tables. Earnings Summary. SUNNYVALE, Calif. -November 5, 2020-After market close on Tuesday, December 1, 2020, NetApp will announce financial results for the second quarter of fiscal year 2021, which ended October 30, 2020.NetApp executive management will host a conference call at 2:00 p.m. Pacific Time to discuss these results and provide their perspective on market dynamics. Take the wheel with NetApp’s Cloud Services to simplify your cloud management landscape. G. Gains/losses on the sale or derecognition of assets. With me today are our CEO, George Kurian, and CFO, Mike Berry. B. Stock-based compensation expenses. These are non-cash charges to write down assets when there is an indication that the asset has become impaired.