UPDATE: NetScout Posts Upbeat Q3 Earnings
NetScout Systems Inc. (NASDAQ: NTCT) reported better-than-expected earnings for the fiscal third quarter.
The Westford, Massachusetts-based company posted quarterly net income of $17.6 million, or $0.42 per share, compared to $17.3 million, or $0.41 per share, in the year-ago period. Excluding one-time items, the company earned $0.59 per share.
Its revenue climbed 11% to $122.8 million. However, analysts were estimating earnings of $0.50 per share on revenue of $121.7 million.
Total product revenue for the quarter rose 12% to $76.4 million, while service revenue surged 11% to $46.4 million on a GAAP basis.
NetScout's operating margin narrowed to 22.7% from 24.7%.
As of December 31, 2014, NetScout's cash and cash equivalents, and short and long-term marketable securities totaled $240.7 million, a rise of $21.9 million since the end of fiscal year 2014.
“Our excellent third-quarter fiscal year 2015 results demonstrate ongoing success in advancing our strategy as we continue to gain traction with our customers around the world,” said Anil Singhal, President and CEO of NetScout Systems.
For the full year, NetScout projects earnings of $1.87 to $1.91 per share, on revenue of $455 million to $460 million.
NetScout shares closed at $33.56 yesterday.
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