Thursday, October 23, 2014

Gigamon's Sales Rise 13% Sequentially

Gigamon reported Q3 2014 revenues of $39.3 million, up 13% from the second quarter of fiscal 2014 and up 1% year-over-year. GAAP net loss was $3.0 million, or $0.09 per diluted share, compared to GAAP net income of $1.5 million, or $0.05 per diluted share, in the prior-year period.

"We are pleased to have delivered sequential revenue growth of 13% and returned to non-GAAP profitability in the third quarter," said Paul Hooper, chief executive officer of Gigamon. "We achieved solid performance in our Enterprise business, generated strong revenue from North America, and continued to see solid demand for our GigaSMART portfolio. We believe these results reflect a stabilization of our business, and we remain focused on bringing our business back to stronger growth rates as we continue to improve execution across our operations."