A10 Networks, Inc. (ATEN) saw its loss narrow to $1.79 million, or $0.03 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $7.36 million, or $0.12 a share. On an adjusted basis, net profit for the quarter stood at $2.32 million, or $0.03 a share compared with a net loss of $3.74 million, or $0.06 a share in the last year period.
Revenue during the quarter grew 13.03 percent to $64 million from $56.62 million in the previous year period. Gross margin for the quarter expanded 144 basis points over the previous year period to 77.30 percent. Operating margin for the quarter period stood at positive 0.97 percent as compared to a negative 12.03 percent for the previous year period.
Operating income for the quarter was $0.62 million, compared with an operating loss of $6.81 million in the previous year period.
"The fourth quarter was a strong close to the year with revenue exceeding guidance and growing 13 percent year-over-year to reach $64 million. Our record performance was driven by strong demand for our security solutions and continued expansion with cloud provider, service provider and web-scale customers," said Lee Chen, president and chief executive officer of A10 Networks. "We also continued to drive leverage through our operating structure to make significant improvements in our bottom-line results, while at the same time, investing in key areas of our business."
Operating cash flow improves significantly
A10 Networks, Inc. has generated cash of $18.78 million from operating activities during the year, up 453.76 percent or $15.39 million, when compared with the last year.
The company has spent $96.36 million cash to meet investing activities during the year as against cash outgo of $3.48 million in the last year.
Cash flow from financing activities was $8.44 million for the year, up 33.93 percent or $2.14 million, when compared with the last year.
Cash and cash equivalents stood at $28.98 million as on Dec. 31, 2016, down 70.47 percent or $69.14 million from $98.12 million on Dec. 31, 2015.
Working capital increases
A10 Networks, Inc. has recorded an increase in the working capital over the last year. It stood at $98.60 million as at Dec. 31, 2016, up 7.86 percent or $7.19 million from $91.41 million on Dec. 31, 2015. Current ratio was at 1.96 as on Dec. 31, 2016, down from 2.04 on Dec. 31, 2015.
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