Wednesday, August 24, 2011

Aruba Posts Sales of $113.8 Million, up 47% YoY

Aruba Networks reported quarter sales of $113.8 million for the fourth quarter of fiscal 2011, an increase of 47 percent from the $77.3 million reported in Q4'10. GAAP net income for Q4'11 was $68.2 million, or $0.57 per share, compared with net income of $0.4 million, or $0.00 per share, in Q4'10. GAAP net income for the fourth quarter included a one-time tax benefit of $72.8 million, equivalent to $0.61 per share, due to the release of the company's valuation allowances and the recording of the associated net deferred tax assets on its balance sheet. This one-time event is in conjunction with the establishment of Aruba's international operating entities to optimize Aruba's long term tax structure. Non-GAAP net income for Q4'11 was $20.2 million, or $0.17 per share. This compares with $11.1 million, or $0.10 per share, in Q4'10.

"Demand for our wireless LAN solutions continued to be strong throughout our fiscal fourth quarter, as revenue increased by 47 percent year-over-year and 8 percent sequentially," said Dominic Orr, President and Chief Executive Officer of Aruba. "Mobile device adoption continues to accelerate resulting in proliferating demand for Enterprise mobility solutions. Revenue from the existing customer base remains strong and we are especially encouraged by our rapid new customer acquisitions adding over 4,500 customers in the last twelve months. With robust Q4 bookings and a solid pipeline for our wireless LAN solutions, we enter our fiscal 2012 confident in our ability to grow faster than the market and increase our market share."