As per the latest update, NetApp(NASDAQ:NTAP) has reported financial results for the fourth quarter and fiscal year 2014, ended April 25, 2014. According to the report, net revenues for the fourth quarter of the fiscal year 2014 were $1.649 billion. GAAP net income for the fourth quarter of the fiscal year 2014 was $197 million, or $0.59 per share, compared to GAAP net income of $174 million, or $0.47 per share, for the comparable period of the prior year. Non-GAAP net income for the fourth quarter of the fiscal year 2014 was $284 million, or $0.84 per share, compared to non-GAAP net income of $253 million, or $0.69 per share, for the comparable period of the prior year.
NetApp ended fiscal year 2014 with $5.003 billion of total cash, cash equivalents, and investments and generated $1.350 billion in cash from operations. During the fiscal year 2014, the company returned $2.083 billion to shareholders through share repurchases and cash dividends.
“NetApp saw market share gains and delivered a solid operational performance in the fiscal year 2014, highlighted by margin expansion and strong cash generation. With solutions like clustered Data ONTAP, our broad flash portfolio and differentiated approach to the cloud, customers are solving the challenges of today, with innovative solutions that pave the way for the future,” said Tom Georgens, Chairman & CEO.
The report further revealed that the company increased the next dividend to $0.165 per share to be paid on July 22, 2014 to shareholders of record as of the close of business on July 10, 2014.
