NetApp Expects Revenue to Slump By About 8% In Fiscal Year
14 November 2019 - 8:58AM
Dow Jones News
By Allison Prang
NetApp Inc. (NTAP) said it expects net revenue to fall about 8%
this fiscal year.
The company had been expecting net revenue to fall between 5%
and 10%.
NetApp expects consolidated gross margins to be between 67% and
68% on an adjusted basis and for its GAAP consolidated gross
margins to be between 66% and 67%. It was guiding for its adjusted
consolidated gross margins to be between 66% and 67% and for its
GAAP consolidated gross margins to be between 65% and 66%.
NetApp expects its adjusted operating margins to be between 21%
and 22%. It was expecting adjusted operating margins between 19%
and 22%. It expects its GAAP operating margins to be between 18%
and 19%. It was expecting between 16% and 19%.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
November 13, 2019 16:43 ET (21:43 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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