UPDATE 1-Aruba Q1 tops Street; to cut jobs
* Q1 EPS $0.02 vs estimate $0.01
* Revenue up 12 pct to $52.4 mln
* To reduce operating expenses by about 10 pct
* To incur costs related to job cuts in Q2
* Shares rise 28 percent
Nov 20 (Reuters) - Aruba Networks Inc (ARUN.O) posted better-than-expected quarterly results and said it would cut costs by about 10 percent through a reduction in work force and other expenses, sending its shares up 28 percent.
The company expects to incur net expense of about 1.2 million in the second quarter related to the job cuts. The company did not disclose the number of jobs it planned to cut. Aruba,which supplies equipment for secured wireless network used in offices, posted net loss of $6.4 million, or 8 cents per share, compared with a net loss of $0.6 million, or 1 cent per share, a year ago.
Excluding items, the company earned 2 cents per share for the first quarter ended Oct. 31.
Aruba said revenue from retail and government customers increased sequentially due to big new customer wins reported in the fourth quarter.
Shares of the company were up at $2.49 in trading after the bell. They closed down 8 percent at $1.95 Thursday on Nasdaq. (Reporting by Purwa Naveen Raman in Bangalore; Editing by Himani Sarkar)
