Procera Networks, Inc. (AMEX:PKT) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 27%.
Procera Networks, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 20% to $0.12 in the quarter versus EPS of $0.15 in the year-earlier quarter.
Revenue: Rose 6.01% to $16.57 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Procera Networks, Inc. reported adjusted EPS income of $0.12 per share. By that measure, the company missed the mean analyst estimate of $0.14. It missed the average revenue estimate of $19.09 million.
Quoting Management: “The market traction for our solutions is growing as we continue to win new business across all customer segments and geographies, and we believe we have established industry leadership, particularly within the mobile segment and among Tier 1 service providers,” said James Brear, President and CEO of Procera Networks. “Our record fourth quarter bookings include important wins with Tier 1 service providers and the magnitude of our total bookings underscores our leadership and the competitiveness of our products. We continue to build on our product technology leadership with the proven industry leading performance and scalability of our solutions, including our high performance PL20K and the recently introduced ContentLogic intelligence solution, which offer unique value propositions that further distinguish Procera from the competition in our markets.”
Key Stats (on next page)…