Procera Networks Earnings: Here’s Why the Stock is Rising Now
Procera Networks, Inc. (AMEX:PKT) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 22.29%.
Procera Networks, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.16 in the quarter versus EPS of $0.13 in the year-earlier quarter.
Revenue: Rose 14.92% to $14.17 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Procera Networks, Inc. reported adjusted EPS loss of $0.16 per share. By that measure, the company missed the mean analyst estimate of $-0.07. It beat the average revenue estimate of $13.48 million.
Quoting Management: “Our record revenue and bookings for the first quarter reflect our continued positive traction in the market for our products, and our pipeline is growing,” said Jim Brear, President and CEO of Procera Networks. “Our integration of Vineyard Networks has gone very well, with significant opportunities on both the NAVL and PacketLogic sides of the business, and we expect some significant new wins in the coming months. We continue to expect to gain market share in 2013.”
Key Stats (on next page)…