Monday, November 3, 2014

Procera Posts Q3 Revenue of $16.1 Million

Procera reported Q3 2014 revenue of $16.1 million, compared with $21.3 million in the third quarter of 2013.  GAAP net loss for the third quarter of 2014 was $15.7 million, or $0.77 per diluted share, which includes a $12.4 million impairment charge to write-down the goodwill and purchased intangible assets related to an acquisition, and compared with a GAAP net loss of $3.0 million, or $0.15 per diluted share, for the third quarter of 2013.

"Our results for the quarter reflect our previously announced expectations, and although they are below our initial plans, we believe we have laid a solid technology and customer foundation to improve the financial fundamentals and drive shareholder value," said James Brear, president and chief executive officer of Procera Networks. "With the recent customer wins and successes in R&D, we are achieving our strategic goals in the areas of analytics and virtualization, and are focused on returning Procera to a long term growth trajectory."