Infoblox Q3 Adj. Profit Tops Estimate; Outlook Weak; CEO To Step Down

(RTTNews) - Infoblox Inc. (BLOX) reported a net loss for the third quarter of $7.4 million or $0.14 per share, compared to a net loss of $0.3 million or $0.01 per share for the year-ago quarter.

Excluding items, adjusted net income for the third quarter was $3.8 million or $0.07 per share, compared to $6.0 million or $0.11 per share in the prior year quarter.

Total net revenue for the third quarter rose 5% to $61.02 million from $58.04 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.03 per share on revenue of $ 61.65 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the fourth quarter, the company forecasts revenue in the range of $60 million to $61 million and adjusted earnings in the range of $0.00 to $0.02 per share. Analysts currently expect the company to earn $0.06 per share on revenue of $66.61 million for the fourth quarter.

For the fiscal year ending July 31, 2014, the company currently expects revenue in the range of $245 million to $246 million and adjusted earnings in the range of $0.30 to $0.32 per share. Previously, Infoblox forecast adjusted earnings of $0.30 to $0.34 per share and revenue of about $250 million to $254 million.

Analysts currently expect the company to earn $0.33 per share on revenue of $252.62 million for the fiscal year 2014.

Separately, Infoblox said that Robert Thomas has decided to step down as the company's president and chief executive officer. Thomas will remain in his present management and board positions pending the appointment of his successor. Thomas joined Infoblox in September 2004 as director, president and chief executive officer.