Infoblox Shows Why Its IPO Hype Was Real
Infoblox Inc. (NYSE: BLOX) is the winner for Thursday as the automated network control systems provider showed that its sales gained almost 26% from a year ago. Earnings came in at $0.06 per share on sales of $49.5 million. Thomson Reuters was looking only for a breakeven on earnings and was looking for revenues to be $46.2 million.
The company called it an outstanding start to its new fiscal year, and it made a comment that you are just not hearing elsewhere in technology: strong demand across all geographic regions.
As a result, guidance also was amped up. Infoblox now sees revenues of $50 million to $51.5 million and it sees its earnings at $0.03 to $0.04 per share. Thomson Reuters has estimates of $0.01 per share and $48.3 million in sales. For its fiscal 2013 ending in July, Infoblox is guiding to a range of $204 million to $208 million in revenue with earnings at $0.17 to $0.21 per share. Thomson Reuters has estimates of $199 million in sales and EPS of $0.06.
Infloblox has been public less than a year and shares had previously sold off considerably as the market was untrusting of the growth here. Infoblox closed at $13.95 on Wednesday, and the 52-week range is $13.73 to $24.15. Shares are up more than 30% today around $18.40.
When Infoblox came public earlier this year, its shares priced at $16 at the IPO, and that was above the $12 to $14 per share indicated price range.
JON C. OGG
Filed under: 24/7 Wall St. Wire, Earnings, Technology Companies Tagged: BLOX