NetApp 1st-qtr profit down 54 pct
Aug 15 (Reuters) - Storage equipment maker NetApp Inc's first-quarter earnings fell 54 percent to $64 million on weak IT spending and a slowdown in Europe.
Revenue fell slightly to $1.45 billion.
Excluding one-time items, the company reported a profit of 42 cents a share.
Analysts were looking for a profit of 38 cent a share on revenue of $1.46 billion, according to Thomson Reuters I/B/E/S.
The company's shares closed at $31.74 on Wednesday on the Nasdaq.
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