Infoblox Posts Revenue of $61M, CEO to Step Down

Infoblox reported revenue of $61 million for its third fiscal quarter ended April 30, 2014.  Net revenue was up 5% on a year-over-year basis but on the low-end of company guidance. There was a GAAP net loss of $7.4 million, or $0.14 loss per fully diluted share, for the third quarter of fiscal 2014, compared with a net loss of $0.3 million, or $0.01 loss per fully diluted share, for the third quarter of fiscal 2013.

“Revenue for the third quarter was $61 million, which was at the low-end of our guidance range of $61 million to $62 million,” said Robert Thomas, president and chief executive officer. “While we made progress in a few areas of the company, we again experienced challenges in closing seven-figure transactions. Clearly, our top priority is to reaccelerate top-line growth and we are taking actions to improve sales execution. Importantly, we believe our competitive position continues to be strong and our addressable market is growing, and we are optimistic about the opportunities before us.”

In addition, Infoblox announced that Robert Thomas has decided to step down as the company’s president and CEO pending the appointment of a successor. Thomas joined Infoblox in September 2004 as director, president and chief executive officer.

“We have accomplished a tremendous amount over the past ten years, and I am very proud of our entire team,” said Robert Thomas, president and chief executive officer. “Today, we have strong customer relationships, leading technologies and deep management talent. I am confident the board will select a world-class leader to continue to grow the company, and build on the strong base we have in place today. I remain fully committed to leading Infoblox and ensuring the succession process is seamless.”

http://www.infoblox.com