NetScout Systems Pops after Positive Earnings

Shares of NetScout Systems NTCT are seeing much strength Thursday morning after the company announced earnings this morning that was higher than what the Street was expecting. The company reported its Q3 EPS at $0.35 on revenue of $83.30 million. However, analysts were expecting earnings of $0.33 per share on revenue of $81.99 million. Commenting on the events, Anil Singhal, President and CEO of NetScout Systems, said “We performed well in the third quarter despite an uneven business environment. Our third quarter results are on track for our full year guidance with record quarterly revenue, up 9% year-over-year, and non-GAAP earnings per share up 13%.” He continued, “Our performance was led by strong service provider business, principally from carriers in Asia and the U.S., with bookings up 41% over last year and up 33% on a trailing four quarters basis. We are entering the fourth quarter with $13 million of product backlog, and we are reaffirming and tightening the range of the fiscal 2012 guidance.” Currently, shares of NetScout Systems are trading 11% higher at $19.06; up 8% on the year.