(NYSE:BLOX), the automated network control company, today reported its financial results for its second fiscal quarter ended January 31, 2013. Total net revenue for the second quarter of fiscal 2013 was a record $54.4 million, an increase of 32% on a year-over-year basis.
On a GAAP basis, the Company reported a net loss of $3.2 million, or $0.07 loss per fully diluted share, for the second quarter of fiscal 2013, compared with a net loss of $1.1 million, or $0.10 loss per fully diluted share, in the second quarter of fiscal 2012.
The Company reported non-GAAP net income of $3.0 million, or $0.06 earnings per share on a non-GAAP weighted average share basis, for the second quarter of fiscal 2013, compared with non-GAAP net income of $1.6 million, or $0.04 earnings per share on a non-GAAP weighted average share basis, in the second quarter of fiscal 2012. The GAAP to non-GAAP reconciling items for the second quarters of fiscal 2013 and 2012 can be found in the "Reconciliation of GAAP to non-GAAP Financial Measures" attached to this press release.
“We continued to experience strong growth, which is indicative of the strength of our industry-leading products, our market leadership position, and the growing adoption for commercial-grade DDI solutions,” said Robert Thomas, president and chief executive officer. “Not only are we pleased with our financial performance, but we also expanded our total addressable market and increased the opportunity within our existing customer base. In the quarter, we introduced two new security solutions that leverage our automated network control technology, and a low-cost, easy-to-deploy Trinzic network edge appliance. Looking ahead, we are confident in our ability to execute and expect a strong second half in fiscal 2013.”
“In the second quarter, we experienced solid demand across all geographic regions and continued our high rate of new customer acquisition,” said Remo Canessa, chief financial officer. “From a bottom-line perspective, we achieved solid profitability, with non-GAAP gross margin, operating margin and earnings per share all exceeding our previous targets.”