Gigamon (GIMO) Generates Double-Digit Sales Gain

NEW YORK (TheStreet) -- Gigamon (GIMO) stock is gaining on Friday after the networking company reported a double-digit revenue increase in its first quarter. 

By midday, shares had added 6% to $17.04.

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Over the three months to March, the company reported revenue 23% higher year over year to $31.8 million. However, net losses widened to 7 cents a share from profits of 2 cents a share in the year-ago quarter. 

Analysts surveyed by Thomson Reuters had expected a net loss of 7 cents a share and revenue of $31.3 million. 

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