A10 Networks, Inc. (ATEN) saw its loss narrow to $3.90 million, or $0.06 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $9.54 million, or $0.15 a share. On an adjusted basis, net profit for the quarter stood at $0.67 million, or $0.01 a share compared with a net loss of $4.09 million, or $0.06 a share in the last year period. Revenue during the quarter grew 12.05 percent to $60.29 million from $53.80 million in the previous year period. Gross margin for the quarter expanded 112 basis points over the previous year period to 76.54 percent. Operating margin for the quarter stood at negative 7.17 percent as compared to a negative 17.51 percent for the previous year period.
Operating loss for the quarter was $4.32 million, compared with an operating loss of $9.42 million in the previous year period.
"The first quarter was a solid start to the year with revenue growth driven by our security and cloud-focused solutions gaining momentum among cloud provider, service provider and web-scale customers," said Lee Chen, president and chief executive officer of A10 Networks. “We believe the cloud presents a long-term growth opportunity for A10, and we are focused on bringing new solutions to market that give customers the visibility, agility, flexibility and security they need for their cloud deployments."
Operating cash flow drops significantly
A10 Networks, Inc. has generated cash of $0.54 million from operating activities during the quarter, down 94.78 percent or $ 9.89 million, when compared with the last year period. The company has spent $0.98 million cash to meet investing activities during the quarter as against cash outgo of $70.70 million in the last year period.
Cash flow from financing activities was $2.04 million for the quarter, up 491.30 percent or $1.70 million, when compared with the last year period.
Cash and cash equivalents stood at $30.58 million as on Mar. 31, 2017, down 19.94 percent or $7.62 million from $38.20 million on Mar. 31, 2016.
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