Why FireEye (FEYE) Stock Is Down This Morning

NEW YORK (TheStreet) -- Shares of FireEye Inc. (FEYE) are down -13.71% to $32.04 in pre-market trade after the provider of protection against cyber attacks announced financial results for the 2014 first quarter.

First quarter revenue was $74 million, compared with the previously issued guidance range of $70 million to $72 million.

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Deferred revenue totaled $212.7 million at the end of the first quarter, an increase of $25.2 million from December 31, 2013. Current deferred revenue was $121.4 million, an increase of $10.9 million from December 31, 2013. Long-term deferred revenue was $91.3 million, an increase of $14.3 million from December 31, 2013.

First quarter GAAP net loss was $101.2 million, or 76 cents per share, based on 134.0 million weighted average shares outstanding. This compares with a GAAP net loss of $27 million, or $1.78 per basic and diluted share, based on 15.2 million weighted average shares outstanding, in the first quarter of 2013.

First quarter non-GAAP net loss was $71.4 million, or 53 cents per basic and diluted share, compared to the previously issued guidance range of a loss of 51 cents to $56 cents per share.

Separately, the company announced the execution of a definitive agreement to acquire nPulse Technologies, an innovator in network security forensics.

 FEYE Chart

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