Aruba Networks Beats Q2 Expectations; Stock Rises After-Hours
Aruba Networks, Inc. (NASDAQ: ARUN) released financial results Thursday for its second quarter of fiscal year 2015 ended January 31, 2015.
Revenue came in at a record $212.9 million, above estimates of $210.22 million, and was an increase of 21 percent from the $176.4 million reported in Q2 2014.
Non-GAAP net income was $33.8 million, or $0.30 per diluted share, above estimates of $0.27 and above the $21.4 million, or $0.18 per diluted share, reported in the year-ago period.
GAAP net income was $5.7 million, or $0.05 per diluted share, compared with a GAAP net loss of $10.7 million, or a loss of $0.10 per share, in the prior year period.
The non-GAAP gross margin was 73.4 percent for the quarter while the GAAP gross margin was 71.7 percent.
The non-GAAP operating margin was 23.3 percent and the GAAP operating margin came in at 10.3 percent.
CEO Dominic Orr said, "We are pleased to report solid results for the second quarter, reflecting continued execution on our strategic plan. Our results were supported by continued growth in our key geographies, strong year-over-year performance in our Federal vertical, further success in penetrating the Global 2000, and increasing traction in our SME business. We believe we are well positioned to capitalize on the continued growth in WLAN, the potential opportunities from increased E-Rate funding later this year, and the continued 802.11ac refresh cycle."
Aruba Networks, Inc. traded close to 1 percent higher in the after-hours session.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.