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Infoblox Reports Second Quarter Of Fiscal 2013 Results

Financial Outlook

Infoblox is providing an outlook of anticipated results for the third quarter ending April 30, 2013 and updating its outlook for the year ending July 31, 2013. This outlook is based on a number of assumptions that it believes are reasonable at the time of this earnings release. Information regarding potential risks that could cause the actual results to differ from these forward-looking statements is set forth below and in Infoblox’s filings with the Securities and Exchange Commission.

For the third fiscal quarter ending April 30, 2013, the Company currently expects:

  • Total net revenue in the range of $55 million to $56.5 million;
  • Non-GAAP gross margin to be approximately 78%;
  • Non-GAAP operating margin in the range of 6% to 7%; and
  • Non-GAAP diluted net income per share ("non-GAAP EPS") to be in the range of $0.06 to $0.07, assuming approximately 54.1 million shares on a non-GAAP diluted weighted average basis.

For the fiscal year ending July 31, 2013, the Company currently expects:

  • Total net revenue in the range of $216 million to $219 million;
  • Non-GAAP operating margin in the range of 6% to 7%; and
  • Non-GAAP EPS to be in the range of $0.21 to $0.26, assuming approximately 53.8 million shares on a non-GAAP diluted weighted average basis.

All forward-looking non-GAAP measures exclude estimates for stock-based compensation expenses and amortization of intangible assets. A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis.

About Non-GAAP Financial Measures

To supplement our financial results presented in accordance with Generally Accepted Accounting Principles (GAAP), this press release and the accompanying tables and the related earnings conference call contain certain non-GAAP financial measures, including non-GAAP gross profit and gross margin, non-GAAP operating income and operating margin, non-GAAP EPS and non-GAAP weighted average shares outstanding. We also provide third fiscal quarter 2013 and fiscal year 2013 guidance for non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating margin, non-GAAP EPS and non-GAAP weighted average shares outstanding. We believe these non-GAAP financial measures are helpful in understanding our past financial performance and future results. Our non-GAAP financial measures should not be considered in isolation or as a substitute for comparable GAAP measures and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand and manage our business and forecast future periods. These non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies. Our non-GAAP financial measures include adjustments based on the following items:

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