Market Overview

Barracuda Networks Reports Q1 Beat, Raises FY15 Outlook

Related CUDA
Barracuda Networks Conference Call Highlights
Morgan Stanley Believes Solid Quarter Should Build Investor Confidence In Barracuda Networks
Tech IPO Stocks Lose Luster (Fox Business)

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.

Posted-In: Earnings News Guidance

 

Most Popular

Related Articles (CUDA)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters