Infoblox Posts Q4 Loss, But Tops View, Shares Up

(RTTNews) - Infoblox Inc. (BLOX), a network and data services provider, Thursday reported a swing to loss for the fourth quarter from a profit last year, hurt largely by higher operating costs and lower gross margins. Nonetheless, earnings for the quarter and revenues trumped analysts estimates sending shares of the company up 11 percent in the after-hours trade.

Santa Clara, California-based Infoblox reported fourth-quarter loss of $9.7 million or $0.18 per share, compared to last year's profit of $1.5 million or $0.03 per share.

Adjusted profit for the quarter dropped to $1.8 million or $0.03 per share from $7.9 million or $0.14 per share last year. On average, 13 analysts expected earnings of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.

Infoblox said revenues for the quarter grew 3 percent to $64.9 million from $63.1 million last year. Eleven analysts had a consensus revenue estimate of $60.49 million for the quarter.

Gross margins for the quarter dropped to 77.5 percent from 78.1 percent last year. Operating expenses increased to $59.8 million from $47.9 million a year ago.

"We had a positive finish to fiscal 2014, as our financial results exceeded our expectations in the fourth quarter," said Chief Executive Robert Thomas.

Looking forward to the first quarter, the company expects adjusted earnings of $0.01 to $0.03 per share and revenues of $63 million to $65 million. Analysts currently estimate earnings of $0.03 per share on revenues of $61.45 million.

BLOX closed Thursday's trading at $13.58, down $0.16 or 1.16%, on the Nasdaq. The stock, however, gained $1.57 or 11.56%, in the after-hours trade.