Boston, MA 05/30/2014 (wallstreetpr) – Palo Alto Networks is leading a new-generation in cyber security by securing thousands of enterprise, service provider and government from cyber attacks. Palo Alto Networks is a trademark of Palo Alto Networks Inc (NYSE:PANW).
Conferences ahead:
The company on May 29, 2014, disclosed that its management will be attending and presenting at Bank Of America Merrill Lynch 2014 Global Technology Conference San Francisco, CA on June 4, 2014. In addition, the management team will also present at William Blair Growth Stock Conference Chicago, IL on June 11, 2014. A live webcast of the conference call will be available at the Investors section of the company website.
A new settlement on the cards:
The leader in network innovation, Juniper Networks, entered a settlement contract with Palo Alto Networks Inc (NYSE:PANW). The announcement was made on May 28, 2014 resolving patent litigation between these two companies.
Palo Alto will make a one-time payment to Juniper as per the terms of the settlement. Palo Alto Networks Inc (NYSE:PANW) will bear $100 million in shares of ordinary stocks as well as warrants to buy common stocks and $75 million in cash. With this agreement, both the companies agreed to discharge all patent litigation in due in California and Delaware.
Financial report:
Palo Alto Networks, Inc. on May 28, 2014, published its financial report for its fiscal third quarter of 2014 that ended on April 30, 2014. Palo Alto Networks Inc (NYSE:PANW) generated total revenue of $150.7 million, which grew 49% YOY from $101.3 million in the third quarter of last year. The company reported fiscal third quarter non-GAAP net income of $8.7 million, or $0.11 per diluted share. In comparison, the same in the fiscal 3Q2013 was $5.3 million, or $0.07 per diluted share.
The GAAP net loss for the fiscal 3Q2013 was $139.1 million or $1.86 per diluted share as compared with a net loss of $7.3 million, or $0.10 per diluted share in the comparable quarter a year before.
CEO and CFO’s comments:
The CEO and president of Palo Alto Networks, Mark McLaughlin, stated that the company posted record revenue in its third quarter driven by solid user demand for its next-era enterprise security platform. The CFO of Palo Alto Networks Inc (NYSE:PANW), Steffan Tomlinson, mentioned that the company’s YOY revenue expansion of 49% was driven by its land, retain and expand model as the product, support revenue and recurring subscription, all of which contributed to significant growth.
