"For its fiscal 2018, NetApp also reported GAAP net income of $76 million, or 28 cents per share, down from the $509 million, or $1.81, the company reported for fiscal year 2017. Those sales grew 4 percent year-over-year.Kurian told CRN that booming all-flash storage array sales, combined with a software-driving focus on innovation aimed at where customers are moving their IT infrastructures, were a winning combination for NetApp's fiscal 2018. "Our value has always been in software," he said. In particular, he said customers are looking for architectures which allow them to use data to accelerate business performance.NetApp does not yet break out sales of its new HCI hyper-converged infrastructure line, Kurian. "We are very, very pleased that we are delivering expanded innovation to the market and capturing the value from it," he said. "It really represents the accelerating momentum that we're seeing with our strategic roadmap for customers. NetApp’s revenue rose 1.3% YoY in fiscal 3Q17, and analysts expect revenue to rise 4.3% YoY in fiscal 4Q17. ($ Million) Growth Rate (%) # Employees; 2019: Details in Premium Report: 2018: 2017: 2016: 2015: 2014: 1-Year Growth Rate: 3-Year Growth Rate (CAGR): Note: Netapp's revenues are gauged from an analysis … Non-GAAP net income for the year was $957 million, or $3.47 per share, up from last year's $768 million, or $2.73 per share.Meanwhile, not only did NetApp expand product revenue, but its gross margins from the strategic products grew 350 basis points year-on-year to a really good number, Kurian said.For its fiscal fourth quarter of 2018, NetApp reported revenue of $1.64 billion, up from last year's $1.28 billion. ""It is because of our alignment with that strategic direction of customers that we are winning in every conceivable segment that we participate in," he said. "Clearly, the numbers are a lot larger now than they were a few years ago," he said. "This sets up the new fiscal year exactly as we wanted it, with strategic products continuing to outpace the rest of the market substantially, and mature products as well as services revenue stabilized," he said.Kurian said NetApp feels it can sustain its fast-paced all-flash storage sales growth for the foreseeable future. "Since you're at the Accelerate conference, I would just tell you that we are far bigger and growing faster percentage-wise than your host," he said.Kurian said the key driver of growth in the fourth fiscal quarter came from being aligned with where customers are moving. "We have gained shares in this fiscal year in every product market in every geography that have competed in. As Liz Conner, research manager, Storage Systems at IDC says, “The enterprise storage market closed out the first quarter relatively flat, yet adhered to a familiar pattern. As seen in the above chart, NetApp expects revenue growth in the second half of 2017. "But what I can tell you is, SolidFire and SolidFire HCI is part of our strategic products," he said. Netapp Revenue Est. We have regained momentum, returning the company to revenue growth and delivering against all of our fiscal year 2017 commitments," said George Kurian, chief executive officer.
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