NetApp's Q3 net income dips 55 percent

NetApp's net income for its third quarter ended January 27, 2012 reached $120 million, falling 55 percent compared to the year ago quarter.

The company reported a net income of $186 million in the year ago quarter. The total revenue of the company for the quarter stood at $1.566 billion, compared to $1.290 billion for the same period a year ago.

The revenue for the first nine months of the fiscal 2012 totaled $4.531 billion, compared to revenues of $3.694 billion for the first nine months of the prior fiscal year, increasing 23 percent on year-on-year basis.

The net income for the first nine months of fiscal year 2012 counted $425 million, compared to net income of $513 million for the first nine months of the prior fiscal year, decreasing 20 percent on year-on-year basis.

''Our success is evident in our results, as NetApp won a record number of new customers, significantly increased our units shipped including a record number of high-end systems, and saw solid revenue growth across almost all geographies in our third quarter,'' said Tom Georgens, president and CEO.