NetApp Inc. (NASDAQ:NTAP) reported a loss in profit in the second quarter. Net income for NetApp Inc. rose to $165.6 million (44 cents per share) vs. $175.4 million (45 cents per share) in the same quarter a year earlier. This marks a dip of 6% from the year earlier quarter. NTAP fell short of the mean analyst estimate of 49 cents per share. It fell short of the average revenue estimate of $1.53 billion.
“NetApp produced record non-GAAP earnings per share in the second quarter. In aggregate, we saw strong revenue growth across most areas of our business, offset by some unexpected weakness in a handful of our largest accounts,” said Tom Georgens, president and CEO. “NetApp achieved the highest number of net new customer wins in more than two and a half years this quarter, and in our ‘Smart Decisions are Built on NetApp’ campaign we just launched the new FAS2000 series platform built on our Data ONTAP 8.1 operating system-all of which will drive market share gains going forward.”
Competitors to Watch: EMC Corporation (NYSE:EMC), Dot Hill Systems Corp. (NASDAQ:HILL), Overland Storage, Inc. (NASDAQ:OVRL), Quantum Corporation (NYSE:QTM), ADPT Corporation (ADPT), Xyratex Ltd. (NASDAQ:XRTX), Seagate Technology PLC (NASDAQ:STX), Western Digital Corp. (NYSE:WDC), Brocade Communications Systems, Inc. (NASDAQ:BRCD), and Intl. Business Machines Corp. (NYSE:IBM).
Applied Materials Inc. (NASDAQ:AMAT) posted a decrease in profit as revenue declined. Net income for the semiconductor equipment and materials company fell to $456 million (34 cents per share) vs. $468 million (35 cents per share) a year earlier. This is a decline of 2.6% from the year earlier quarter. AMAT reported adjusted net income of 21 cents per share. By that measure, the company beat the mean estimate of 20 cents per share. Analysts were expecting revenue of $2.16 billion.
“Applied’s record year was driven by strength in our silicon business and our highest-ever revenue in solar and services, as well as strategic programs that improved the efficiency of our operations,” said Mike Splinter, chairman and chief executive officer. “While we expect the first half of fiscal 2012 to be impacted by the challenging economic environment, we anticipate that our overall business will strengthen during the second half of the year.” After the end of the quarter, Applied completed the acquisition of Varian Semiconductor Equipment. “The combination of Applied and Varian creates the industry leader in transistor technologies,” Splinter added. “Together, we will partner with our customers to accelerate the development of new generations of chips enabling smaller, faster and more power-efficient mobile devices.”
Competitors to Watch: Novellus Systems, Inc. (NASDAQ:NVLS), KLA-Tencor Corporation (NASDAQ:KLAC), Lam Research Corporation (NASDAQ:LRCX), Mattson Technology, Inc. (NASDAQ:MTSN), FSI International, Inc. (NASDAQ:FSII), Tegal Corporation (NASDAQ:TGAL), Axcelis Technologies, Inc. (NASDAQ:ACLS), Ultratech, Inc. (NASDAQ:UTEK), CVD Equipment Corporation (NASDAQ:CVV), and ASM Intl. N.V. (NASDAQ:ASMI).