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Aruba Networks Inc. (ARUN) filed Quarterly Report for the period ended 2011-10-31.
Aruba Networks Inc. has a market cap of $2.25 billion; its shares were traded at around $21.31 with a P/E ratio of 2131 and P/S ratio of 5.7.
This is the annual revenues and earnings per share of ARUN over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of ARUN.
Highlight of Business Operations:
During the first quarter of fiscal 2012, total revenues increased $36.2 million, or 43.5%, over the first quarter of fiscal 2011. An increase in product revenues of 46.1% during the first quarter of fiscal 2012 compared to the first quarter of fiscal 2011 drove the overall increase in total revenues. The increase was attributable to broad-based demand across all of our major geographies and verticals, and the significant growth in our customer base. We added approximately 1,500 new customers during the first quarter of fiscal 2012. Our network rightsizing and MOVE architecture initiatives continue to gain momentum as companies move toward a new access network. The rapid proliferation of Wi-Fi enabled mobile devices, the increase in demand for multimedia-rich mobility applications, and the rise of both server and desktop virtualization is driving this trend.Professional services and support revenues increased 31.0% during the first quarter of fiscal 2012 compared to the first quarter of fiscal 2011. This increase is a result of both increased product and first year support sales, and the renewal of support contracts by existing customers as our customer base continues to grow.
During the first quarter of fiscal 2012, sales and marketing expenses increased 36.5% compared to the first quarter of fiscal 2011. Personnel and related costs increased $7.3 million primarily due to an increase in headcount of 107 employees. An increase in stock-based compensation and associated payroll taxes of $2.9 million also contributed to the increase in personnel and related costs. Facilities and IT-related expenses increased $0.7 million primarily due to the increase in headcount. Commission expense increased $2.8 million corresponding to the increase in revenue. Marketing expenses increased $1.3 million due to field marketing efforts and product launches.
Interest income increased slightly during the first quarter of fiscal 2012 compared to the first quarter of fiscal 2011. The increase is primarily due to higher cash and investment balances in interest-earning accounts. Our average interest-earning cash and investment balance for the first quarter of fiscal 2012 was $190.0 million compared to $135.7 million for first quarter of fiscal 2011.
As of July 31, 2011, we had net operating loss carryforwards of $230.0 million and $156.1 million for federal and state income tax purposes, respectively. We also had research and credit carryforwards of $17.4 million for federal and $18.2 million for state income tax purposes as of July 31, 2011. During the first quarter of fiscal 2012 we utilized net operating loss carryforwards of $80.9 million and $37.1 million for federal and state income tax purposes, respectively. Realization of deferred tax assets is dependent upon future earnings, if any, the timing and amount of which are uncertain.
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