Barracuda Networks, Inc. (CUDA) Tops Q4 EPS by 5c

Barracuda Networks, Inc. (NYSE: CUDA) reported Q4 EPS of $0.06, $0.05 better than the analyst estimate of $0.01. Revenue for the quarter came in at $82 million versus the consensus estimate of $59.67 million.

"We made good progress in the fourth quarter across all of our markets and product categories, especially our higher growth market categories of network and application security and storage, which are becoming larger portions of our overall business," said BJ Jenkins, president and CEO. "During the quarter, we added over 7,900 new active subscribers, ending our fiscal year with more than 205,000 active subscribers. In addition to adding new customers, we also made good progress with our installed-base selling initiatives, accelerating growth in the number of multi-product customers. As Barracuda expands our product offerings and the availability of solutions in areas of growing adoption such as public cloud platforms, we are strengthening our positioning and availability of our security and storage solutions that simplify the lives of IT professionals."

"We had strong financial performance in the fourth quarter, particularly with our cash flow metrics, which were driven by our billings growth," said David Faugno, CFO. "Adjusted free cash flow in the fourth quarter was $18.7 million, or 31% of total revenue, and non-GAAP operating income was $3.3 million. The company closed the fourth quarter and fiscal year with total deferred revenue of $313.2 million, up from $298.8 million in the third quarter, and cash and cash equivalents of $135.9 million, up from $117.2 million in the third quarter."

For earnings history and earnings-related data on Barracuda Networks, Inc. (CUDA) click here.

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