Aruba Networks bullish on revenue, shares jump 15 percent
Feb 21 (Reuters) - Wireless network gear maker Aruba Networks Inc reported 23 percent higher revenue and forecast further gains in the current quarter, sending its shares up 15 percent in extended trade.
Aruba, which supplies equipment for secured wireless networks forecast its third-quarter adjusted profit of 20 cents per share on revenue of $159 million to $161 million.
Analysts were expecting the Sunnyvale, California-based company, which competes with Qualcomm Inc and Riverbed Technology Inc, to deliver a profit of 20 cents per share on revenue of $158.3 million, according to Thomson Reuters I/B/E/S.
Aruba reported a profit of $5 million, or 4 cents per share, compared with a loss of $11.4 million, or 11 cents per share, a year earlier.
Excluding items, related to stock-based compensation, the company earned 22 cents per share in the second quarter on revenue of $155.4 million.
Analysts on average had expected the company to earn 19 cents per share on revenue of $152 million, according to Thomson Reuters I/B/E/S.
Aruba shares topped $23.92 in extended trade, up from $20.80 at the close on Thursday on the Nasdaq.