NetApp warns that earnings, revenue will come in well below forecast

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NetApp Inc. said Thursday afternoon that its fiscal year got off to a worse start than expected, and trading was halted for the stock. The data-storage...

NetApp Inc.

said Thursday afternoon that its fiscal year got off to a worse start than expected, and trading was halted for the stock. The data-storage company said that it expects to report earnings of 30 cents to 35 cents a share on sales of $1.22 billion to $1.23 billion for its fiscal first quarter, with adjusted earnings of 55 cents to 60 cents a share. That is lower than NetApp's forecast, which called for earnings of 56 cents to 64 cents a share on sales of $1.32 billion to $1.

 

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