NetScout Systems, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016; Revises Earnings Guidance for the Fiscal Year 2017
January 31, 2017 at 07:30 am EST
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NetScout Systems, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company has posted total revenue of $302,192,000 against $307,679,000 a year ago. Income from operations was $33,362,000 against $2,253,000 a year ago. Income before income tax expense was $30,614,000 against loss before income tax expense of $650,000 a year ago. Net income was $21,245,000 or $0.23 diluted per share against net loss of $24,507,000 or $0.25 diluted per share a year ago. Non-GAAP revenue was $311,354,000 against $333,366,000 a year ago. Non-GAAP income from operations was $84,330,000 against $88,303,000 a year ago. Non-GAAP net income was $55,207,000 or $0.60 diluted per share against $57,244,000 or $0.58 diluted per share a year ago. Non-GAAP EBITDA from operations was $92,751,000 against $94,962,000 a year ago.
For the nine months, the company has posted total revenue of $843,192,000 against $669,532,000 a year ago. Income from operations was $23,413,000 against loss from operations of $20,628,000 a year ago. Profit before income tax expense was $15,331,000 against loss before income tax expense of $24,505,000 a year ago. Net profit was $10,981,000 or $0.12 diluted per share against net loss of $24,753,000 or $0.32 diluted per share a year ago. Non-GAAP revenue was $872,576,000 against $715,932,000 a year ago. Non-GAAP income from operations was $185,479,000 against $177,634,000 a year ago. Non-GAAP net income was $117,969,000 or $1.27 diluted per share against $114,462,000 or $1.47 diluted per share a year ago. Non-GAAP EBITDA from operations was $210,826,000 against $193,895,000 a year ago.
For fiscal year 2017, the company revenue guidance has been updated. The company now anticipates that its fiscal year 2017 GAAP revenue will be approximately $1.163 billion and its non-GAAP revenue will be approximately $1.2 billion. This compares to prior fiscal year 2017 guidance for GAAP revenue in the range of approximately $1.165 billion to $1.215 billion and non-GAAP revenue that ranged from approximately $1.2 billion to $1.25 billion. The company has also updated its net income per share (diluted) guidance for fiscal year 2017. The company now anticipates GAAP net income per share (diluted) for fiscal year 2017 in the range of $0.40 to $0.43 and non-GAAP net income per share (diluted) in the range of $1.87 to $1.90 based on approximately 93 million shares outstanding. Prior GAAP net income per share (diluted) guidance for fiscal year 2017 ranged from $0.49 to $0.74 and the prior non-GAAP net income per share (diluted) ranged from $1.87 to $2.12. Prior guidance was based on approximately 93 million shares outstanding.
NetScout Systems, Inc. is a provider of performance management, cybersecurity, and distributed denial of service (DDoS) protection solutions. The Company protects the connected world from cyberattacks and performance and availability disruptions through the Companyâs visibility platform and solutions powered by its deep packet inspection at scale technology. Its service assurance solutions are used by enterprises (including government agencies) and service providers to optimize network performance, identify and resolve issues impacting application and service quality, and to gain insight into the end user experience. Its primary products are categorized as service assurance solutions for network application performance, and business intelligence analytics and cybersecurity solutions. Its service assurance solutions include nGeniusONE Management Software and Analytic Modules and Visibility Products. Its cybersecurity solutions include DDoS Protection and Advanced Threat Detection.
NetScout Systems, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016; Revises Earnings Guidance for the Fiscal Year 2017