Network Appliance Inc. (NetApp) reported revenues for the Q4 fiscal quarter 2006 of $598 million, an increase of 32 percent compared to $451.8 million for the same period in 2005. The gain also represents an increase of 11 percent over the previous quarter which saw $537 million revenue for the company.
For the Q4, GAAP net income was $59.2 million, which includes a non-recurring income tax expense of $22.5 million, associated with the Repatriation of Foreign Profits under the Jobs Creation Act of 2004. This compares to GAAP net income of $63.4 million in 2005.
For the entire fiscal year 2006, NetApp’s revenues totaled $2.07 billion, an increase of 29 percent compared to revenues of $1.6 billion for fiscal year 2005.
For fiscal year 2006, GAAP net income increased 18 percent to $266.5 million compared to GAAP net income of $225.8 million.