Aruba Networks up premarket on 4Q results
NEW YORK (AP) — Shares of Aruba Networks jumped more than 15 percent in premarket trading on Friday as the company's fiscal fourth-quarter results topped Wall Street expectations.
On Thursday Aruba Network Inc., which makes equipment for wireless communications networks, reported adjusted earnings of 18 cents per share on revenue of $139.2 million for the period ended July 31. The company's adjusted results exclude stock-based compensation expense, acquisition-related expenses and other items.
Analysts polled by FactSet predicted earnings of 17 cents per share on revenue of $136.8 million.
For the year, the Sunnyvale, Calif. company posted adjusted earnings of 64 cents per share on revenue of $516.8 million.
Aruba Networks' stock added $2.60, or 15.4 percent, to $19.52 before the market opened.