Aerohive Networks (HIVE) Tops Q1 EPS by 2c; Sees Profits in Q2
Aerohive Networks (NYSE: HIVE) reported Q1 EPS of ($0.08), $0.02 better than the analyst estimate of ($0.10). Revenue for the quarter came in at $36.4 million versus the consensus estimate of $35.88 million.
“We’re pleased to deliver results at the high end of our guidance for revenue and exceeding our guidance for gross margin and earnings per share, made possible by the actions we have taken to improve our execution and operational efficiency,” stated David Flynn, President and Chief Executive Officer. “While there is more work to do, we believe we have turned the corner on the major challenges that affected our results last year and are now back on a positive trajectory, guiding to non-GAAP EPS of breakeven to $0.01 in the second quarter and expecting to resume year-over-year growth in the second half of 2017.”
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