NetApp Inc Issues Q2 2012 Guidance In Line With Analysts' Estimates; Announces CFO Transition

NetApp Inc announced that for the second quarter of 2012, it expects revenue to be in the range of $1.500 billion to $1.600 billion, GAAP earnings per share to be approximately $0.38-$0.42 per share and non-GAAP earnings per share to be approximately $0.58-$0.62 per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $1.511 billion and EPS $0.60 for the second quarter of 2012. The Company also announced that Steve Gomo, executive vice president and Chief Financial Officer (CFO), has made the decision to retire, effective December 31, 2011. Nicholas R. Noviello, senior vice president of finance and global controller, will succeed Gomo as CFO on January 1, 2012. The transition in leadership is the result of a planned management succession process.