Shares of Infoblox Inc. (NYSE: BLOX), a provider of appliance-based solution that enables dynamic networks and next generation data centers, saw a huge rally in trading today after the company reported its first-quarter financial results.
For the first quarter ended October 31, 2012, BLOX reported total net revenue of $49.5 million, a record and up 25.8% over the same period in the previous year. BLOX reported a net loss of $2.4 million, or $0.05 per share for the first quarter, compared to a net loss of $1.8 million, or $0.16 per share reported for the same period in the previous year. On a non-GAAP basis, the company reported first-quarter net income of $3.1 million, or $0.06 per share, compared to $0.8 million, or $0.02 per share reported for the same period in the previous year.
Robert Thomas, President and CEO of Infoblox, said that he is very pleased with the outstanding start to BLOX’s new fiscal year. Thomas noted that in the first quarter, the company achieved double-digit sequential revenue and product revenue growth, and experienced strong demand across all geographic regions. Thomas believes that the company’s results reflect the strength in its comprehensive product portfolio, the company’s competitive position and the market’s growing adoption of BLOX’s automated network control solutions.
Looking ahead to the second quarter, BLOX expects net revenue to be between $50 million and $51.5 million. Non-GAAP gross margin for the quarter second quarter is expected to be approximately 78%. The company expects non-GAAP diluted net income per share for the quarter to come at $0.03-$0.04.
For the full fiscal year, the company expects total net revenue to be between $204 million and $208 million. Full-year non-GAAP earnings are expected to be between $0.17 per share and $0.21 per share.
BLOX shares ended 29.53% higher at $18.07 on above average volume of 3.82 million. Year-to-date, the stock has fallen 15.16%.