NetApp's Q3 Results: Innovation, Channel Drive Growth

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In addition, NetApp's Noviello said, the number of clustered nodes shipped in the third quarter was up 70 percent over the second quarter.

Flash storage has also become an increasingly large part of the company's business, NetApp's Georgens said. The company shipped about 36 petabytes of flash storage over the past three years, including 20,000 storage systems with flash as a part of the total capacity.

In the third quarter, NetApp also shipped over 100 all-flash storage arrays based on the company's E-series storage systems, and it expects part of the business to grow, he said. NetApp is planning to roll out new flash storage products in the very near future, he said.

At the same time, Noviello said, indirect channel sales, including OEM sales, accounted for 81 percent of NetApp's total revenue, up about 7 percent from last year. NetApp's distribution partners Arrow and Avnet accounted for 33 percent of NetApp's total revenue, up from 27 percent last year, he said.

NetApp's FlexPod partnership with Cisco is also continuing to grow. Georgens said that over 700 channel partners have sold solutions based on the FlexPod reference architecture to over 2,100 customers across more than 35 countries.

He also said the FlexPod architecture in January was expanded to offer improved branch and cloud storage capabilities.

Looking forward, NetApp expects revenue during the fourth fiscal quarter to be in the range of $1.7 billion and $1.8 billion. This compares to the $1.7 billion the company reported for its fiscal fourth quarter of 2012.

NetApp also expects GAAP earnings per share for the fourth fiscal quarter of 43 cents to 48 cents and non-GAAP earnings per share of 65 cents to 70 cents. That compares to GAAP earnings per share of 47 cents last year.


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