Posts GAAP net loss of $6.8m compared to a net loss of $3.5m for second quarter of fiscal 2008
Aruba Networks, a provider of wireless LAN products, has posted a GAAP net loss of $6.8m, or $0.08 per share, for the fiscal second quarter of 2009, compared to a net loss of $3.5m, or $0.04 per share, in the fiscal second quarter of 2008.
Revenues for the fiscal second quarter of 2009 were $47.7m, an increase of 17% over the $40.6m reported in the fiscal second quarter of 2008.
For the first six months ended January 31, 2009, the company’s revenue increased to $100.13m from $87.37m for the same period in 2008. Net loss was $13.15m, or $0.16 per share, compared to a net loss of $4.12m, or $0.05 per share, for the corresponding period of fiscal 2008.
Steffan Tomlinson, CFO of Aruba, said: Gross margin improved by more than 300 basis points over the prior quarter, contributing to our solid bottom line performance. Additionally, we reduced operating expenses by over $2.1m from the immediately preceding quarter, in line with our cost reduction plan announced last quarter. During the quarter, we generated $7.6m of cash flow from operations and ended the quarter with $115.2m of cash and short term investments, with no debt.