MILPITAS, Calif. (AP) _ Aerohive Networks Inc. (HIVE) on Wednesday reported a loss of $8.7 million in its first quarter.
On a per-share basis, the Milpitas, California-based company said it had a loss of 15 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 9 cents per share.
The developer of a cloud-managed mobile networking platform posted revenue of $33 million in the period.
For the current quarter ending in July, Aerohive Networks expects its results to range from a loss of 1 cent per share to earnings of 1 cent per share.
The company said it expects revenue in the range of $37.5 million to $39 million for the fiscal second quarter.
In the final minutes of trading on Wednesday, the company's shares hit $3.51. A year ago, they were trading at $4.13.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HIVE at https://www.zacks.com/ap/HIVE