NetScout Systems, Inc. Announces Consolidated Financial Results for the Third Quarter and Nine Months Ended December 31, 2013; Provides Earnings Guidance for the Fiscal Year 2014
For the nine months, the company's total revenue was $284,330,000, compared to $252,473,000 for the last year. Income from operations was $52,029,000, compared to $42,665,000 for the last year. Income before income tax expense was $51,941,000, compared to $42,089,000 for the last year. Net income was $32,430,000 or $0.77 per diluted share, compared to $26,056,000 or $0.62 per diluted share for the last year. Non-GAAP revenue was $284,749,000, compared to $253,144,000 for the last year. Non-GAAP income from operations was $69,625,000, compared to $61,024,000 for the last year. Non-GAAP net income was $43,992,000 or $1.05 per diluted share, compared to $37,917,000 or $0.90 per diluted share for the last year. Capital expenditures were about $9 million, which include investments in internal systems and building improvements in international R&D facilities. Free cash flow is approximately $52 million
The company is narrowing fiscal year 2014 guidance within the original range for GAAP and non-GAAP revenue. The company expects GAAP revenue to be in the range of $391 million to $394 million and non-GAAP revenue to be in the range of $392 million to $395 million. The company has narrowed GAAP net income per diluted share to be in the range of $1.12 to $1.14 and non-GAAP net income per diluted share to be in the range of $1.48 and $1.50.