Aruba’s 1st-quarter loss grows as legal charge offsets higher sales but still tops estimates
By APThursday, November 19, 2009
Aruba’s 1Q loss grows on legal charge
SUNNYVALE, Calif. — Aruba Networks Inc. posted a wider quarterly loss Thursday as one-time legal costs outweighed sales growth.
The company, which makes equipment for wireless network providers, lost $24.7 million, or 28 cents per share, in the three months ended Oct. 31. That compares with a loss of $6.4 million, or 8 cents per share, a year ago.
Stripping out one-time expenses, including a $19.8 million legal settlement, Aruba said it earned $4.1 million, or 4 cents per share, in the latest period.
Sales climbed 10 percent to $57.6 million.
The results beat estimates of analysts polled by Thomson Reuters, who expected adjusted profit of 3 cents per share on sales of $56 million.
Shares slipped 24 cents to close at $9.58.
