Automated network control solutions provider Infoblox Inc. (BLOX), Thursday posted a third-quarter loss that narrowed from a year ago, aided by strong revenue growth across all regions. Excluding items, the company reported an adjusted profit that topped Wall Street estimates, as did revenues.
Looking ahead, the company provided a robust outlook for the fourth quarter and raised its revenue guidance for the full year 2013.
Following the results, Infoblox shares gained over 16 percent in after-hours trade on the New York Stock Exchange.
Infoblox delivers Automated Network Control, the fundamental technology that connects end users, devices and networks.
The Santa Clara, California-based company posted a quarterly net loss of $0.3 million or $0.01 per share, compared with a net loss of $1 million or $0.07 per share last year.
Excluding items, adjusted earnings for the quarter improved to $6 million or $0.11 per share from $2 million or $0.05 per share in the prior year quarter. On average, 9 analysts polled by Thomson Reuters expected earnings of $0.06 per share for the quarter. Analysts' estimates typically exclude special items.
Net revenues for the third quarter were $58 million, up 34 percent from $43 million a year ago. Analysts had a consensus revenue estimate of $56.06 million for the quarter.
Expenses for the quarter escalated to $45 million from $34 million last year.
While gross margin for the quarter improved to 78.1 percent from 77.5 percent in the prior year, operating margin was 0.1 percent, compared with a negative margin of 1.8 percent.
For the fourth quarter, Infoblox expects adjusted earnings of $0.08 to $0.09 per share on net revenues of $58 million to $59 million. Analysts currently estimate earnings of $0.07 per share on revenues of $58.26 million for the quarter.
For the fiscal year 2013, the company has now forecast net revenues of $220 million to $221 million, up from prior range of $216 million to $219 million. Analysts currently estimate revenues of $218.26 million for the year.
Infoblox stock closed Thursday at $22.00, up 0.27%, on a volume of 560 thousand shares. In after hours, the stock gained $3.70 or 16.82%, trading at $25.70.
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