Blue Coat’s quarterly profit, revenue top sights

Blue Coat Systems Corporation. stated Thursday that that it is fiscal second-quarter profit fell 62 percent as demand dipped because of its Internet security items. The business’s results and outlook, however, were well in front of analyst anticipation and it is shares rose 20 % in after-hrs buying and selling.

The organization gained $4.six million, or 10 cents per share, for that quarter that ended March. 31. This compares with $12 million, or 25 cents per share, around-ago quarter.

Excluding one-time products, Blue Coat gained 20 cents per share. Experts questioned by FactSet expected 13 cents per share.

Revenue fell 6 % to $114 million from $121 million last year. Experts expected $106 million in revenue.

Blue Coat stated its product revenue, which comprises nearly all its sales, rejected 15 % to $62.3 million, while service revenue rose 8 percent to $51.8 million.
For that quarter that finishes Jan. 31, Blue Coat predicted net gain of 5 to 13 cents per share – or 19 to 26 cents per share excluding one-time products – on $113 million to $120 million in revenue.

Experts are searching for modified net gain of 16 cents per share on nearly $109 million in revenue.

Blue Coat shares rose $3.41 to $20.32 in after-hrs buying and selling. The stock finished regular buying and selling up $1.14, or 7.2 percent, at $16.91.