11/18/2009-NetApp (NASDAQ:NTAP) reported fiscal Q2 EPS of 37 cents, ex-items, topping consensus estimates of 30 cents.

Revenues in the quarter slipped slightly year-over-year to $910.0 million, but came in ahead of consensus estimates of $881.6 million

NetApp estimates fiscal Q3 revenues to be in a range of $935 million to $955 million (vs. consensus estimates of $920.9 million).

NetApp sees fiscal Q3 EPS of $0.36 to $0.37 (vs. consensus estimates of $0.36)

"NetApp delivered a strong quarter with record gross margins, record revenue from our SAN products, and overall revenue that exceeded our expectations," said Tom Georgens, president and chief executive officer. "Our value proposition resonates particularly well with customers who look to gain efficiency and streamline operations as they begin to build out their next-generation virtualized data centers. Driven by this demand, NetApp is forecasting record revenues for our next fiscal quarter."

Contact Chip Brian

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at www.TradeTheTrend.com/signup.html