Bangalore, June 9 (ANI/Business Wire India): Aruba Networks, a global leader in wireless LANs and secure mobility solutions, today released financial results for its fiscal third quarter ended April 30, 2009.
Revenues for the fiscal third quarter of 2009 were 45.8 million dollars, an increase of 8 per cent over the 42.6 million dollars reported in the fiscal third quarter of 2008. GAAP net loss for the fiscal third quarter of 2009 was 5.8 million dollars, or $0.07 per share, compared to a net loss of 6.2 million dollars, or $0.08 per share, in the fiscal third quarter of 2008. GAAP results for the fiscal third quarter of 2009 included 5.5 million dollars of non-cash stockbased expenses and 1.2 million dollars of amortization expense of acquired intangible assets.
Non-GAAP net income for the fiscal third quarter of 2009 increased 2.1 million dollars from the fiscal third quarter of 2008 to 1.0 million dollars, or $0.01 per share. Non-GAAP net income for these periods excludes the impact of non-cash stock-based expenses and amortization expense of acquired intangible assets in all periods and, for the fiscal third quarter of 2008, acquisition related severance expense.
"In the third quarter we achieved 8% year-over-year revenue growth and won a number of large customers which should continue to benefit our results in coming quarters," said Dominic Orr, president and chief executive officer of Aruba.
"Demand was driven by both existing customers and the addition of more than 500 new customers, across a broad range of industries. In this difficult economic environment, enterprises and organizations are rethinking their current IT infrastructure and we believe that wireless will increasingly be used as a replacement for and/or cost-saving complement to wired networks. We believe Aruba Networks offers both existing and potential customers the lowest total cost of ownership, fully integrated security and proven scalability with some of the world's largest organizations," added Orr.
"Sales were solid across all of our geographies," said Steffan Tomlinson, Aruba's chief financial officer.
"We were pleased to have increased our operating leverage, as we reduced operating expenses in both actual dollars and as a percentage of sales from the immediately preceding quarter and the same period last year. We enter our fourth fiscal quarter with improved visibility from the prior quarter and 111.8 million dollars of cash and short term investments, with no debt," added Tomlinson. (ANI)