Nimble Reports Slimmer Q1 Loss, Shows 100+% Surge In Sales; Guidance Looks Inline

Shares of Nimble Storage

have jumped nearly five percent in Thursday's post-market trading session following a better-than-expected first-quarter loss and guidance which was inline with analyst's estimates. The company said the net loss increased from $9.37 million in the same quarter last year to $19.595 million. On a per-share basis the GAAP loss figure fell from $0.47 to $0.28. The non-GAAP number came in at a loss of $0.14 per share, unchanged from the year-ago quarter and stronger than the Street estimate of a $0.16 per-share loss. Nimble posted a more than 100 percent year-over-year surge in sales from $22.1 million in the first quarter of 2013 to $46.5 million. Suresh Vasudevan, Nimble's CEO, said, "Our performance during the first quarter of fiscal year 2015 continues to validate our belief that a major transition is underway within the storage industry driven by flash as a disruptive ingredient.  Our execution during the quarter underscores our belief that we have built the leading next generation flash storage platform." Nimble is expecting a second-quarter loss in the range of $0.15 to $0.17 per share, compared to the current analyst estimate of a $0.16 per-share loss. Sales for the upcoming quarter are expected in the $49 to $51 million range. Analysts are looking for sales of around $47.8 million. Nimble shares last traded at $28.15.