SUNNYVALE, Calif. (AP) -- Wireless communications company Aruba Networks Inc. said Thursday that it took a loss in its fiscal third quarter as spending increased and the difficult economic environment curbed its sales growth.
The Sunnyvale, Calif., company had cut its outlook on May 7, saying its customers were delaying orders because of the weak global economy.
Aruba is disappointed with its results and cautious about trends in technology spending, said CEO Dominic Orr.
Aruba Networks stock fell $1.10, or 6.3 percent, to $16.51 in aftermarket trading.
The company's loss in the February-April period came to $20.2 million, or 18 cents per share. A year ago the company reported a profit of $6 million, or 5 cents per share. Excluding one-time items, Aruba said it posted a profit of 11 cents per share, down from 16 cents per share the year before and below analysts' prediction of 14 cents per share.
Revenue grew 12 percent, to $147.1 million from $131.9 million. Analysts expected $150 million, according to FactSet.
Operating expenses grew 19 percent to $105.6 million as research and development and marketing costs rose.
Shares of Aruba Networks gained 4 cents to $17.61 Thursday.
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