NetApp
posts strong results
Data storage
company NetApp Inc.(NASDAQ:NTAP)’s net income for the second quarter has beat
Street expectations. That and the bright
outlook presented by the company for the third quarter sent the shares flying
in after market trade on Wednesday.
Will
NTAP Continue To Move Higher? Find Out Here
For the quarter
ended October 26, net income fell drastically to $109.6 million or 30 cents a
share from $165.6 million or 64 cents in the prior year period. If onetime costs such as amortization,
interest and stock compensation expenses are excluded, the EPS works out to 51
cents.
Revenue jumped 2
per cent to $1.54 billion.
Analysts had
expected an adjusted net income of 48 cents on $1.54 billion revenue.
For the third
quarter, the company is looking at earning between 53 cents and 58 cents a
share on revenue between $1.58 billion and $1.68 billion.
NetApp has also
said that it has agreed to buy storage solutions company CacheIQ.
Shares of the
company ended higher by 11% to $30 in Thursday’s trading.
DryShips
posts loss, will modify its capex program
On the
other hand, drybulk shipper DryShips Inc.(NASDAQ:DRYS) is going through a difficult time and has said
that a funding crunch is forcing it to make changes in its capital expenditure
program. The company has posted a
quarterly loss.
"The optimization of our drybulk and
tanker newbuilding programs is our top priority right now and we are in
discussions with the shipyards in this respect to reduce and prolong our capex
program," said CEO George Economou in a statement.
The Greece
based company incurred a net loss of $51.3 million on 13 cents a share in the
third quarter. It had earned a net
profit of $25 million or 7 cents a share in the same period last year. Excluding onetime items, the loss in the last
quarter works out to 9 cents a share.
Revenue
increased 8 percent to $343.6 million.
Analysts
had expected a loss of 2 cents on the revenue of $331.52 million.
Shares of DRYS had a poor session as it
slumped about 20%.
No comments:
Post a Comment