Procera shares up after hours on revenue gains

Procera Networks posts 1Q loss but revenue beats expectations, announces new deals

Associated Press

Procera Networks Inc. on Thursday reported a first-quarter loss, as revenue improved but costs increased .

The company, based in Fremont, Calif., provides products for operators of computer networks.

Procera posted a net loss of $6.1 million, or 30 cents per share, for the quarter that ended March 31. That compares with net income of $579,000, or 4 cents per share, in the first quarter last year. After adjusting for special items, it lost 16 cents per share.

Revenue increased 15 percent to $14.2 million.

Analysts forecast a loss of 7 cents per share on revenue of $13.3 million.

Procera, which previously said that it expects annual revenue growth between 25 and 30 percent for the year, said Thursday the gains will be at least 30 percent. It anticipates that most of its revenue growth will happen in the second half.

The company also said it expects adjusted operating earnings in the second quarter to be break-even on a per share basis. Analysts had forecast earnings of 1 cent per share for the period.

Procera separately announced that it received a multi-million dollar orders from clients in North America and Europe. The company did not disclose the names or exact values of the deals.

Procera shares jumped $2.22, or 20 percent, to $13.30 in after-hours trading.

View Comments (0)