Key Developments: NetApp Inc (NTAP.OQ)

NTAP.OQ on NASDAQ Stock Exchange Global Select Market

38.84USD
31 Jul 2014
Price Change (% chg)

$-0.28 (-0.72%)
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Latest Key Developments (Source: Significant Developments)

NetApp Inc Issues Q2 2014 Guidance In Line With Analysts' Estimates; Declares Dividend
Wednesday, 14 Aug 2013 04:01pm EDT 

NetApp Inc announced that for the second quarter of 2014, it expects total revenue to be in the range of $1.560 billion to $1.660 billion, GAAP earnings per share to be in the range of $0.41 to $0.46 per share and Non-GAAP earnings per share (EPS) to be in the range of $0.60 to $0.65 per share (EPS). According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $1.626 billion and EPS of $0.63 the second quarter of 2014. The Company also announced that the next dividend in the amount of $0.15 per share will be paid on October 25, 2013 to shareholders of record as of the close of business on October 21, 2013.  Full Article

NetApp Inc Issues Q1 2014 Guidance Below Analysts' Estimates; Initiates Quarterly Cash Dividend And Announces Stock Repurchase
Tuesday, 21 May 2013 04:01pm EDT 

NetApp Inc announced that for the first quarter of 2014, it expects revenues to be in the range of $1.475 billion to $1.575 billion, GAAP earnings per share to be approximately $0.13 to $0.18 and non-GAAP earnings per share to be approximately $0.45 to $0.50. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $1.601 billion and EPS of $0.53 for the first quarter of 2014. The Company also announced that it has initiated a quarterly cash dividend of $0.15 per share of the Company's common stock, which it intends to increase over time. The first dividend will be payable on July 23, 2013 to shareholders of record as of the close of business on July 11, 2013. The Company also announced that it is increasing its current stock repurchase program, of which $1.4 billion remains outstanding, by an additional $1.6 billion. The Company plans to complete the aggregate $3 billion program over the next 3 years. NetApp intends $2 billion of repurchases to be completed within the next 12 months, of which $1 billion is planned to be completed during the next 4 months. Under its stock repurchase program, NetApp can purchase shares of its outstanding common stock through open market and privately negotiated transactions at prices deemed appropriate by management.  Full Article

NetApp Inc Announces Resource Realignment
Tuesday, 21 May 2013 04:01pm EDT 

NetApp Inc announced that it has undertaken a realignment of resources and restructuring which includes a global workforce reduction of approximately 900 employees. The Company expects to recognize an estimated aggregate $50-$60 million pretax charge relating to employee severance and other restructuring charges.  Full Article

NetApp Inc Issues Q4 2013 Guidance In Line With Analysts' Estimates
Wednesday, 13 Feb 2013 04:01pm EST 

NetApp Inc announced that for the fourth quarter of 2013, it expects revenue to be in the range of $1.700 billion to $1.800 billion, GAAP earnings per share (EPS) to be approximately $0.43 to $0.48 per share and non-GAAP earnings per share (EPS) to be approximately $0.65 to $0.70 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $1.749 billion and EPS of $0.65 for the fourth quarter of 2013.  Full Article

Sap AG and NetApp Inc Deepen Strategic Partnership to Integrate Storage Database, Analytics and Application Solutions
Thursday, 7 Feb 2013 09:00am EST 

Sap AG and NetApp Inc announced they are deepening their collaboration with the intent to support solutions, including the SAP HANA platform and SAP NetWeaver Landscape Virtualization Management software. By complementing database solutions from SAP with NetApp's storage and data management solutions, the companies are providing customers with an agile data infrastructure for SAP applications that can help drive competitive advantage and reduces cost of ownership. With these technologies, NetApp is part of the solution that supports customers running classic SAP solutions as well as SAP HANA. The building-block-style architecture supports logically unlimited scalability and offers high availability for support of non-stop operations. NetApp storage and data management solutions, including the Cisco and NetApp-developed FlexPod, complement SAP NetWeaver Landscape Virtualization Management in the automation of routine administration tasks; reduction of costs, hardware resources and power; and simplification of landscape management of SAP solutions.  Full Article

NetApp Inc Prices $1,000,000,000 of Senior Notes
Wednesday, 5 Dec 2012 07:36pm EST 

NetApp Inc announced the pricing of $750,000,000 in aggregate principal amount of its 2.00% senior notes due 2017 (the 2017 notes) and $250,000,000 in aggregate principal amount of its 3.25% senior notes due 2022 (the 2022 notes). The offering is expected to close, subject to customary closing conditions, on December 12, 2012. The 2017 notes were priced to yield 2.107% and the 2022 notes were priced to yield 3.344%. NetApp intends to use the net proceeds from this offering for general corporate purposes, which may include repayment of certain indebtedness, capital expenditures, possible stock repurchases, working capital and potential acquisitions and strategic transactions. J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers. Citigroup Global Markets Inc., Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC are acting as co-managers.  Full Article

NetApp Inc Announces Offering of Senior Notes
Wednesday, 5 Dec 2012 08:31am EST 

NetApp Inc announced that it intends to offer, subject to market and other conditions, senior unsecured notes under an effective shelf registration statement on file with the Securities and Exchange Commission. The offering and the final terms of the senior notes, including principal amount, interest rate and maturity will depend on market and other conditions at the time of pricing. NetApp intends to use the net proceeds from this offering for general corporate purposes, which may include repayment of certain indebtedness, capital expenditures, possible stock repurchases, working capital and potential acquisitions and strategic transactions. J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers.  Full Article

NetApp Inc Issues Q3 2013 Guidance
Wednesday, 14 Nov 2012 04:01pm EST 

NetApp Inc announced that for the third quarter of 2013, it expects revenue to be in the range of $1.575 billion to $1.675 billion, GAAP earnings per share to be approximately $0.29 to $0.34 per share and non-GAAP earnings per share to be approximately $0.53 to $0.58 per share.  Full Article

Citrix Systems Inc And NetApp Inc Collaborate To Simplify Cloud Storage
Wednesday, 17 Oct 2012 04:35am EDT 

Citrix Systems Inc announced that the Company and NetApp Inc announced an extension of their current collaboration aimed at accelerating the adoption of enterprise cloud deployments. Together, Citrix and NetApp will provide a fully integrated cloud orchestration and storage solution that will address storage automation, resource allocation, and virtual machine backup and recovery. The move greatly simplifies cloud storage deployment for the companies' mutual customers and will result in faster transitions to private and hybrid clouds. These integrations between Citrix and NetApp technology will focus on NetApp OnCommand Unified Manager. Support in CitrixCloudPlatform and Apache CloudStack will automate the provisioning and administration of storage service offerings within the product's self-service portal, increasing agility while decreasing service deployment times based on policy-based resource allocation. NetApp virtual storage console (VSC) for Citrix XenServer. NetApp plug-in for XenCenter empowers Citrix administrators to provision, deduplicate, resize, and delete storage repositories on NetApp storage. In VDI deployments, NetApp VSC for Citrix XenServer allows for cloning tens of thousands of VMs almost instantaneously with NetApp FlexClone technology.  Full Article

NetApp Inc Issues Q2 2013 Guidance In Line With Analysts' Estimates
Wednesday, 15 Aug 2012 04:01pm EDT 

NetApp Inc announced that for the second quarter of 2013, it expects revenue to be in the range of $1.5 billion to $1.6 billion. GAAP earnings per share to be approximately $0.23 to $0.28 per share and estimates non-GAAP earnings per share to be approximately $0.45 to $0.50 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $1.5 billion and EPS of $0.46 for the second quarter of 2013.  Full Article

NetApp shares may climb to $50: Barron's

- U.S. data storage specialist NetApp could return to $50 a share in the coming year on solid cash flows and signs its revenues might grow again, Barron's said in its latest edition published on Sunday.

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