After taking a break last quarter, Aruba Networks
Fourth-quarter revenue tallied up at $113.8 million, jumping 47% from last year's $77.3 million, resulting in non-GAAP earnings per share for the quarter of $0.17. Revenue beat the Street's consensus estimate of $109.2 million while EPS was right on target.
The full-year picture is just as rosy: $396.5 million revenue, a 49% increase, turning into non-GAAP EPS of $0.59. Last quarter's concerns about gross margins should be alleviated, ticking up to 68.5% from 67.7%. The full-year gross margin showed even more of an improvement, rising to 69.1%.
Aruba CEO Dominic Orr cited growing market share at the expense of primary rival Cisco Systems
Valuation looks a little stretched with the company trading at 45 times free cash flow, compared with fellow networker Riverbed Technology's