Reuters: Global Markets: Infoblox profit forecast beats estimates, shares rise

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Infoblox profit forecast beats estimates, shares rise May 23rd 2013, 21:46 Thu May 23, 2013 5:46pm EDT (Reuters) - Infoblox Inc (BLOX.N) reported a better-than-expected quarterly profit on higher demand for its network automation products and forecast current-quarter earnings above analysts' estimates. Shares of the Santa Clara, California-based company rose 15 percent to $25.30 in extended trade. Infoblox forecast earnings of 8-9 cents per share for the fourth quarter on revenue of $58-$59 million. Analysts on average had expected the company to earn 7 cents per share on revenue of $58.5 million, according to Thomson Reuters I/B/E/S. Infoblox, whose automation products help telecom companies manage Internet addresses to save time and reduce human error, competes with Alcatel-Lucent SA (ALUA.PA) and Toronto-based BlueCat Networks. "In the quarter, we saw strong demand across all geographic regions, with no major concentration in any particular verticals," Chief Executive Robert Thomas said. The company posted a net loss of $257,000, or 1 cent per share, in the third quarter, compared with a loss of $1 million, or 7 cents per share, a year earlier. Excluding items, Infoblox earned 11 cents per share. Revenue rose 34 percent to $58 million. Analysts were expecting the company to post a profit of 7 cents per share on revenue of $55.9 million. Infoblox, which has a market value of about $1.07 billion, has about 5,900 customers including Boeing Co (BA.N), Caterpillar Inc (CAT.N), Vodafone Group PLC (VOD.L), Verizon Communications Inc (VZ.N) and AT&T Inc (T.N). (Reporting By Aditya Kondalamahanty in Bangalore; Editing by Saumyadeb Chakrabarty) Link this Share this Digg this Email Reprints

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