Infoblox (NYSE:BLOX), today reported financial results for its third fiscal quarter ended April 30, 2012. Total net revenue for the third quarter of fiscal 2012 was a record $43.4 million, an increase of 37% compared with net revenue of $31.8 million in the third quarter of fiscal 2011.
On a GAAP basis, the Company reported a net loss of $1.0 million, or $0.07 loss per fully diluted share, for the third quarter of fiscal 2012, compared with a net loss of $3.1 million, or $0.31 loss per fully diluted share, in the third quarter of fiscal 2011.
The Company reported non-GAAP net income of $2.2 million, or $0.05 earnings per share on a non-GAAP weighted average share basis, for the third quarter of fiscal 2012, compared with non-GAAP net loss of $1.0 million, or $0.03 loss per share on a non-GAAP weighted average share basis, in the third quarter of fiscal 2011. The GAAP to non-GAAP reconciling items, for the third quarters of fiscal 2012 and 2011 can be found in “The Reconciliation of GAAP to Non-GAAP Financial Measures” attached to this press release.
“Infoblox had a strong third quarter, which reflected solid performance across key areas of the company,” said Robert Thomas, President and Chief Executive Officer at Infoblox. “In the quarter, we saw strong demand from both new and existing customers for our automated network control solutions, and we introduced new products designed to extend Infoblox’s competitive lead. We also completed our initial public offering, which is an important milestone for the Company.”Mr. Thomas continued, “Looking ahead, we see strong demand for our automated network control solutions against the backdrop of IT initiatives such as virtualization, next-generation data centers, IPv6 technology, and cloud computing, all of which create enormous complexity and scalability demands on an organization’s network. At the same time, we believe corporate IT departments will continue to struggle to provide network support for the growing proliferation of mobile devices in the workplace. Infoblox enables these next-generation technologies and supports the influx of mobile devices on an organization’s network, by increasing network accuracy and uptime, and providing a highly attractive return-on-investment.”