Barracuda Networks (CUDA) Tops Q1 EPS by 9c; CFO Faugno to Step Down
Barracuda Networks (NYSE: CUDA) reported Q1 EPS of $0.20, $0.09 better than the analyst estimate of $0.11. Revenue for the quarter came in at $86.7 million versus the consensus estimate of $83.84 million.
Management Changes
As previously announced, Hatem Naguib and Ezra Hookano have joined Barracuda as vice presidents to drive the security business and channel management, respectively, as well as strengthen the leadership team and drive focus in our strategic areas.
After over ten successful years with Barracuda, David Faugno will be stepping down as CFO on August 1, and Dustin Driggs, Barracuda's chief accounting officer and worldwide controller since 2012, will replace Faugno as Barracuda's CFO. "Dave has helped build Barracuda from its earliest days to become the business that so many of our customers rely upon today," said Jenkins. "His contributions to our success have been significant, not the least of which is the tremendous team he has built and grown. He has been grooming Dustin for this position as part of our succession planning, and he and I are confident that Dustin will do a great job leading the organization through its next chapter. We are also fortunate to have Dave continue to help us as an advisor to support a smooth transition."
Driggs has been with Barracuda since 2007, and prior to joining Barracuda, worked at Cisco Systems, Inc. in a variety of financial leadership roles. Driggs began his career in public accounting with Coopers and Lybrand and holds a B.S. in Accounting from Loyola Marymount University and an M.B.A. from Santa Clara University.
For earnings history and earnings-related data on Barracuda Networks (CUDA) click here.