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Aruba Networks Reports Record Fourth Quarter And Fiscal Year 2012 Financial Results

Stocks in this article: ARUN

Aruba Networks, Inc. (NASDAQ: ARUN) today released financial results for its fourth quarter and fiscal year ended July 31, 2012.

Revenue for Q4’12 was $139.2 million, an increase of 22 percent from the $113.8 million reported in Q4’11. GAAP net loss for Q4’12 was $3.0 million, or $0.03 per share, compared with GAAP net income of $68.2 million, or $0.57 per share, in Q4’11. GAAP net income for the 2011 fiscal fourth quarter included a one-time tax benefit of $72.8 million, equivalent to $0.61 per share, related to the establishment of our international operating entity.

Non-GAAP net income for Q4’12 was $22.1 million, or $0.18 per share, compared with non-GAAP net income of $20.2 million, or $0.17 per share, in Q4'11. Reconciliation between GAAP and non-GAAP information is contained in the tables below.

Fiscal year 2012 revenue was $516.8 million, an increase of 30 percent from $396.5 million reported in fiscal year 2011. GAAP net loss for fiscal year 2012 was $8.9 million, or $0.08 per share, compared with net income of $70.7 million, or $0.60 per share, in fiscal year 2011. Non-GAAP net income for fiscal year 2012 was $77.5 million, or $0.64 per share, compared with $69.3 million, or $0.59 per share, in fiscal year 2011.

“In the fourth quarter, we achieved our thirteenth consecutive quarter of record revenue, growing revenue 22 percent year-over-year and 6 percent sequentially,” said Dominic Orr, Aruba's president and chief executive officer. “Our traditional core verticals performed well in the quarter and we saw continued growth among the general enterprise. We believe that demand for wireless LAN networks remains solid. Our differentiated mobile-centric approach to the access network and value proposition continues to resonate with customers as the global proliferation of mobile devices and the BYOD trend fundamentally change how users securely connect to their enterprise resources.”

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