SCIENCE

NetApp reported results for the first quarter of fiscal year 2012, which ended July 29, 2011. Revenues for the first quarter of fiscal year 2012 totaled $1.458 billion compared to revenues of $1.154 billion for the same period one year ago.

For the first quarter of fiscal year 2012, GAAP net income was $139.5 million, or $0.34 per share(1), compared to GAAP net income of $150.7 million, or $0.40 per share, for the same period a year ago. Non-GAAP net income for the first quarter of fiscal year 2012 was $222.3 million, or $0.55 per share(2), compared to non-GAAP net income of $190.9 million, or $0.51 per share, for the same period a year ago.

"Despite the challenging macroeconomic environment modestly impacting our revenue growth, NetApp still produced earnings per share slightly above the midpoint of our targeted range. The company achieved record levels of FAS6000 systems sales, near record numbers of new enterprise customer wins, and our new E-series sales exceeded our forecast," said Tom Georgens, president and CEO. "Our gross margin performance demonstrates the strength of our competitive position in the market, helping us to achieve healthy operating results and earnings per share."