Looking ahead into the second quarter, the company expects net revenues in the range of $1.45 billion to $1.55 billion, GAAP EPS of $0.79 to $0.85, and non-GAAP EPS of $0.94 to $1.00.
Product revenues for the third quarter increased 20% year-over-year helped by a rise in revenue from strategic product and higher mature product revenues. Revenue from software maintenance rose by 3%, while that from hardware maintenance declined marginally by 0.3%.
The next cash dividend of $0.40 per share will be paid on October 24, 2018, to shareholders of record as of October 5, 2018. The company has returned $605 million to shareholders through share repurchases and cash dividends.
Shares of NetApp ended Wednesday’s regular trading session down 0.35% at $82.47 on the Nasdaq. The stock has risen more than 96% for the past year and more than 49% for the year-to-date.