Posts net income of $14m
Blue Coat Systems has reported net revenue of $122.5m in the first quarter of fiscal 2011, an increase of 6% as compared to net revenue of $116m in the same quarter last fiscal.
Revenue from products increased marginally to $76m from $74m in Q1 FY10, and services revenue increased to $47m from $42.3m of Q1 FY10.
For the first quarter ended July 31, 2010, the company posted an operating income of $19.3m, an increase of 329% as compared to $4.5m of the same quarter FY10.
Blue Coat reported a net income of $14m and $0.29 diluted EPS, in the first quarter of fiscal 2011, as compared to a net income of $4m and $0.09 diluted EPS in the same period previous year.
For the second quarter of 2011, the company is expecting net revenue to be between $117m and $124m, and net income to be in a range of $0.22 and $0.28 per diluted share.