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See the best of Reuters photography. See more | Photo caption Maxim Hot 100 The world's most beautiful women as chosen by Maxim readers. Slideshow Joplin, one year after May 22 marks the one year anniversary of a deadly tornado that ripped through Joplin, Missouri, killing 161 people. Slideshow NetApp's revenue forecast below estimates, stock drops Tweet Share this Email Print Related News Dell results disappoint Street, shares dive Tue, May 22 2012 UPDATE 4-Retailer Express plunges as sales gaffe hurts results Tue, May 22 2012 Medtronic net up, but weak spine-product sales weigh Tue, May 22 2012 UPDATE 4-Applied Materials sees cutting edge driving demand Thu, May 17 2012 Salesforce ups FY outlook on strong first quarter, pipeline Thu, May 17 2012 Analysis & Opinion Some interesting municipal bond trading data Appleâ€™s valuation isnâ€™t at risk any time soon Related Topics Tech » Hot Stocks » Asian Markets » Media » By Noel Randewich SAN FRANCISCO | Wed May 23, 2012 5:03pm EDT SAN FRANCISCO (Reuters) - NetApp Inc (NTAP.O) forecast revenue below expectations and its CEO warned he is cautious about the outlook for business in Europe, sending the data storage equipment maker's shares down 22 percent in after-hours trade. NetApp's report Wednesday came a day after Dell Inc (DELL.O) posted disappointing quarterly results that heightened concerns about cautious IT spending, sending tech stocks sharply lower. "The EMEA (Europe, Middle East, Africa) story is one of uncertainty. We could be seeing a rebound or we could be seeing a strong degradation from there," Chief Executive Tom Georgens told Reuters in telephone interview. "It's time for us to be cautious." The growing popularity of mobile gadgets like Apple's iPhone, which access remote computing power and data over the Internet, has fueled demand for storage products sold by NetApp and rivals like EMC Corp (EMC.N). But NetApp's growth has been affected this year by weak spending by U.S. military and intelligence agencies, which are major customers. A sizeable amount of NetApp's sales also comes from Europe, where a debt crisis has shaken confidence in the economy. New product launches from EMC are also expected to increase pressure on NetApp in the July quarter. Sunnyvale, California-based NetApp posted fiscal fourth-quarter revenue of $1.70 billion compared with $1.43 billion in the year-ago period. NetApp said it expects current-quarter revenue to be in the range of $1.40 billion to $1.50 billion. Analysts had expected NetApp to post $1.684 billion in revenue for the quarter ending in April and $1.606 billion for the quarter ending in July, according to Thomson Reuters I/B/E/S. NetApp's net income for the fourth quarter was $181 million, or 47 cents a share, according to generally accepted accounting principles, compared with $161 million, or 40 cents a share, in the same quarter last year. Adjusted earnings per share were 66 cents, versus expectations of 63 cents. Shares of NetApp were down 22 percent at $25.55 in extended trading after closing down 1.3 percent at $32.86 in the regular session on the Nasdaq. (Reporting by Noel Randewich; Editing by Carol Bishopric and Matthew Lewis) Tech Hot Stocks Asian Markets Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above. 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