SonicWall Posts 1Q Profit, Lower Revenue

SUNNYVALE, Calif. (AP) — Network security technology company SonicWall Inc. posted a first-quarter profit Monday, reversing a year-earlier loss that was hurt by restructuring charges and higher costs.

The company earned $1.7 million, or 3 cents per share, up from a loss of $66,000, or break-even per share, in the year-earlier period.

Excluding items such as restructuring charges, SonicWall earned 7 cents per share in the latest quarter.

Revenue fell 15 percent to $47.1 million from $55.3 million.

Analysts, on average, were expecting a profit of 7 cents per share on sales of $48 million, according to a poll by Thomson Reuters. Analysts typically exclude one-time items from their estimates.

The quarter's operating expenses fell 24 percent to $31.6 million.

Shares rose 6 cents to close at $5.90.