February 13, 2008 / 9:18 PM / 12 years ago

NetApp profit up but revenue view shy of estimates

SAN FRANCISCO, Feb 13 (Reuters) - Network Appliance Inc (NTAP.O) posted a higher quarterly profit on Wednesday but forecast lower-than-expected revenue in the current quarter, sending its shares lower.

NetApp forecast fiscal fourth-quarter revenue of $915 million to $945 million, shy of the $960.7 million average estimate of analysts on Reuters Estimates.

Net income in the data storage equipment maker’s fiscal third quarter advanced to $101.8 million, or 29 cents per share, from $66.5 million, or 17 cents per share, a year earlier. Revenue grew to $884 million from $729.3 million.

The company reported third-quarter earnings before certain costs of 37 cents per share.

Analysts, on average, expected earnings before certain costs of 34 cents per share and revenue of $879.3 million, according to Reuters Estimates.

NetApp in November had forecast third-quarter net income of 23 cents to 24 cents per share and earnings before items of 33 cents to 34 cents per share. It projected third-quarter revenue of $872 million to $883 million. (Reporting by Philipp Gollner; Editing by Tim Dobbyn)

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