Barracuda Networks Reports Q1 Beat, Raises FY15 Outlook
Barracuda Networks Inc. (NASDAQ: CUDA) shares are up 2.3 percent in after-hours trading Thursday as the computer security company posted fiscal first-quarter results that exceeded analyst estimated. The company increased its forecast for fiscal 2015.
The Campbell, Calif.-based company said adjusted profit for the quarter surged more than five times from the year-earlier period to $3.6 million, or $0.07 per share. The average analyst estimate was $0.03. Revenue rose 18 percent to $66.2 million, better than the average analyst estimate of $64.38 million.
“We believe we strengthened our position as a go-to provider of security and storage solutions,” CEO B.J. Jenkins said in the press release.
Barracuda execs, on the conference call, boosted its fiscal 2015 revenue forecast to a range of $270-$274 million compared with an average analyst estimate of $270.4 million. The previous forecast was $269-$273 million. The company is looking for fiscal year EPS in the range of $0.14-$0.18, up from $0.11-$0.15 previously. Analysts are currently expecting EPS of $0.14.
Shares of Barracuda last traded at $34.75.
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