Aruba Networks Reports Record Fiscal 2Q 2013 Financial Results
Feb 27, 2013 (Close-Up Media via COMTEX) --
Aruba Networks, Inc. released financial results for its second quarter of fiscal year 2013 ended Jan. 31.
In a release dated Feb. 21, the Company said that revenue for Q2'13 of $155.4 million grew 23 percent from the $126.3 million reported in Q2'12. GAAP net income for Q2'13 was $5.0 million, or $0.04 per share, compared with GAAP net loss of $11.4 million, or $0.11 per share, in Q2'12.
Non-GAAP net income for Q2'13 was $27.3 million, or $0.22 per share, compared with Q2'12 non-GAAP net income of $19.4 million, or $0.16 per share. GAAP and Non-GAAP earnings per share included a $0.02 per share benefit related to the reinstatement of the U.S. federal research and development tax credit on Jan. 2.
"We delivered another strong topline quarter and achieved our fifteenth consecutive quarter of record revenue," said Dominic Orr, Aruba's president and chief executive officer. "Our differentiated approach and value proposition continue to resonate with customers. A number of our new products contributed to our growth as our industry leading product portfolio is helping organizations around the globe securely manage the proliferation of mobile devices and applications accessing their networks. Aruba's application-aware MOVE architecture delivers the security, reliability and scalability that our customers need at the mobile edge as well as the needed visibility into all aspects of the access network."
Michael Galvin, Aruba's chief financial officer, said, "In the second quarter we delivered strong financial and operating results with record operating margin. Additionally, we generated a record $45.7 million in cash flow from operations, purchased 1.0 million shares of common stock under the repurchase program and ended the quarter with $402.3 million in cash, cash equivalents and short-term investments."
-Introduced New Aruba 7200 Series Mobility Controllers with Aruba AppRF Technology. The new Aruba 7200 Series with new Aruba AppRF technology is the only wireless LAN platform with the integrated application intelligence and controls to optimize application delivery.
-Rex Healthcare Deployed Aruba Networks Wireless Infrastructure to Enable Key Medical Applications, Address BYOD.
-HarborLink Selected Aruba for Managed Wi-Fi Service Upgrade at Fast-Growing Restaurant Chain. HarborLink chose Aruba Instant, Aruba's controller-less Wi-Fi solution, for the restaurant deployment because of its built-in reliability, zero-touch provisioning and ease of management. When complete, HarborLink will have installed Aruba's Instant access points in more than 800 of the restaurant chain's locations across the United States and Canada enabling free Wi-Fi access for restaurant patrons.
-Quinnipiac University Upgraded its Network with Aruba MOVE Architecture and Replaced 250 Cisco Access Switches with the Aruba S3500 Mobility Access Switch. Quinnipiac University selected the Aruba MOVE architecture.
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