Monday, November 4, 2013

Gigamon Cites Rapid Growth, Sales up 52% YoY

Gigamon reported Q3 revenues of $39.0 million, compared to $25.7 million in the third quarter of fiscal 2012, representing growth of 52% year-over-year. GAAP gross margins of 80% in the third fiscal quarter, in line with the third quarter of fiscal 2012.  GAAP net income for the third quarter of fiscal 2013 was $1.4 million, or $0.04 per diluted share, compared to GAAP net income of $1.1 million, or $0.06 per diluted share, in the third quarter of fiscal 2012.


"We are pleased with the results this quarter demonstrating our continued ability to execute," said Paul Hooper, CEO of Gigamon. "During the quarter we added 86 new customers including 19 Fortune 1000 companies. We also received the largest order in the company's history from a first time customer, indicating that visibility fabrics are increasingly being designed into major infrastructure projects.  We are especially pleased with the performance of the GigaVUE HB-1, which experienced the fastest ramp of any Gigamon product since its launch in late June."

http://www.gigamon.com

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