Barracuda's Revenue Grows 16%

Barracuda Networks' revenue for the fourth quarter of its fiscal 2016 increased 16% to $83.7 million, compared with $72.2 million in the fourth quarter of fiscal year 2015. Appliance revenue was $21.7 million, compared with $20.9 million in the fourth quarter of fiscal year 2015, and recurring subscription revenue grew to $62.1 million, up from $51.2 million in the fourth quarter of fiscal year 2015, representing 74% of total revenue. GAAP net income was $3.2 million, or $0.06 per share, based on a diluted share count of 53.1 million, compared to a GAAP net loss of $68.4 million in the fourth quarter of fiscal 2015.

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