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Aruba Networks Reports Record Fiscal Second Quarter 2013 Financial Results

Stocks in this article: ARUN

Aruba Networks, Inc. (NASDAQ: ARUN) today released financial results for its second quarter of fiscal year 2013 ended January 31, 2013.

Revenue for Q2’13 of $155.4 million grew 23 percent from the $126.3 million reported in Q2’12. GAAP net income for Q2’13 was $5.0 million, or $0.04 per share, compared with GAAP net loss of $11.4 million, or $0.11 per share, in Q2’12.

Non-GAAP net income for Q2’13 was $27.3 million, or $0.22 per share, compared with Q2’12 non-GAAP net income of $19.4 million, or $0.16 per share. GAAP and Non-GAAP earnings per share included a $0.02 per share benefit related to the reinstatement of the U.S. federal research and development (R&D) tax credit on January 2, 2013. A reconciliation between GAAP and non-GAAP information is contained in the tables below.

“We delivered another strong topline quarter and achieved our fifteenth consecutive quarter of record revenue,” said Dominic Orr, Aruba’s president and chief executive officer. “Our differentiated approach and value proposition continue to resonate with customers. A number of our new products contributed to our growth as our industry leading product portfolio is helping organizations around the globe securely manage the proliferation of mobile devices and applications accessing their networks. Aruba’s application-aware MOVE architecture delivers the security, reliability and scalability that our customers need at the mobile edge as well as the needed visibility into all aspects of the access network.”

Commenting on the company’s financial results, Michael Galvin, Aruba’s chief financial officer, added, “In the second quarter we delivered strong financial and operating results with record operating margin. Additionally, we generated a record $45.7 million in cash flow from operations, purchased 1.0 million shares of common stock under the repurchase program and ended the quarter with $402.3 million in cash, cash equivalents and short-term investments.”

Recent Highlights

  • Introduced New Aruba 7200 Series Mobility Controllers with Aruba AppRF Technology. The new Aruba 7200 Series with new Aruba AppRF technology is the only wireless LAN platform with the integrated application intelligence and controls to optimize application delivery.
  • Rex Healthcare Deployed Aruba Networks Wireless Infrastructure to Enable Key Medical Applications, Address BYOD. After evaluating a number of wireless network vendors, Rex Healthcare found that Aruba offered the most cost-effective, easy-to-manage solution for their needs. Rex Healthcare deployed a wireless network based on the Aruba Mobile Virtual Enterprise (MOVE) architecture to deliver secure and reliable access to the organization’s Electronic Medical Records (EMR) and wireless patient monitoring devices. The network also supports Bring Your Own Device (BYOD) by enabling employees to connect to the network on their personal smartphones, tablets and other mobile devices.
  • HarborLink Selected Aruba for Managed Wi-Fi Service Upgrade at Fast-Growing Restaurant Chain. HarborLink chose Aruba Instant, Aruba’s controller-less Wi-Fi solution, for the restaurant deployment because of its built-in reliability, zero-touch provisioning and ease of management. When complete, HarborLink will have installed Aruba’s Instant access points (IAPs) in more than 800 of the restaurant chain’s locations across the United States and Canada enabling free Wi-Fi access for restaurant patrons.
  • Quinnipiac University Upgraded its Network with Aruba MOVE Architecture and Replaced 250 Cisco Access Switches with the Aruba S3500 Mobility Access Switch. Quinnipiac University selected the Aruba MOVE architecture to deliver robust, reliable and secure network access to all students, staff and faculty across its three campuses and the new infrastructure is designed to provide the IT department with comprehensive visibility and control of both wired and wireless network resources.

Conference Call Information

Aruba will host a conference call for analysts and investors to discuss its second quarter of fiscal year 2013 results today at 4:30 p.m. Eastern time (1:30 p.m. Pacific time). Open to the public, investors may access the call by dialing +1-480-629-9760. A live webcast of the conference call will also be accessible from the “Investor Relations” section of the company’s website at www.arubanetworks.com. Following the webcast, an archived version will be available on the website for twelve months. To hear the replay, parties in the United States and Canada should call 1-800-406-7325 and enter passcode 4591677. International parties can access the replay at +1-303-590-3030 and should enter passcode 4591677.

Forward-Looking Statements

This press release may be deemed to contain forward-looking statements regarding our expected strategies, markets and product positions, performance and results.

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