NEW YORK (AP) -- Aruba Networks Inc., which makes equipment for wireless network providers, reported a net loss of $467,000 for its fiscal 2012 first quarter Thursday despite a big jump in revenue.
The company also announced that it is planning to acquire Avenda Systems Inc., a private, Santa Clara, Calif.-based company that develops network security technologies, for an undisclosed price. The acquisition is expected to close in the current quarter.
The loss for the three months ended Oct. 31 equated to zero cents per share. That compared with a profit a year earlier of $2.13 million, or 2 cents per share.
Excluding certain items, including a higher tax rate, Aruba Networks pegged adjusted earnings at 14 cents per share, matching the consensus estimate of analysts surveyed by FactSet.
Revenue was $119.4 million, up 44 percent from $83.1 million a year earlier and $2 million better than analysts expected.
CEO Dominic Orr attributed the surge in revenue from a year ago to the proliferation of mobile devices, which the company expects to continue as more employees bring their devices to work.
Shares climbed $1.33, or 6.1 percent, to $23.12 in extended-hours trading following the release of the report. During the regular session, they had tumbled $2.35, or 9.7 percent, to $21.79.
There are no comments yet