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Infoblox Posts Blowout Earnings; Shares Rise

SANTA CLARA, Calif. ( TheStreet) -- Infoblox (BLOX - Get Report) comfortably beat Wall Street's estimates in its first quarterly results since going public last month. The network-automation company issued robust earnings guidance.

Infoblox brought in third-quarter revenue of $43.4 million, up from $31.8 million in the same period last year, and above analysts' estimates of $41.4 million.

Excluding items, Infoblox earned 5 cents a share, compared with a loss of 3 cents. Analysts surveyed by Yahoo Finance! were looking for earnings of a penny a share.

For the third quarter, Infoblox predicted revenue between $42.5 million and $44 million, and an earnings range of flat to a penny a share. Analysts surveyed by Yahoo! Finance are looking for sales of $42.06 million and flat earnings.

Infoblox shares surged in response to the results, climbing 5.1% to $19.50 in extended trading.

The network-automation specialist, which competes with BMC (BMC) and Alcatel-Lucent (ALU), cited virtualization and cloud products as key growth drivers.

"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," said Robert Thomas, Infoblox's CEO, in a statement released after market close. "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."

--Written by James Rogers in New York.

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