Aruba Networks (ARUN) is a name I've found late in the game, only becoming familiar with the company about 9 months ago, but it continues to impress. Last evening as all eyes were on Salesforce.com (CRM) earnings, Aruba posted a quite stellar earnings report. Revenue grew 53% year over year to $105.8M (v $98.2M expected) and earnings came in at 16 cents ex items (v 15c). There does appear to be a headwind of higher taxes coming down the pike, a quarter ahead of expectations.
Full earnings call transcript
- “In the third quarter, we benefited from strong demand across all of our major geographies and increasing acceptance of our solutions in both the general enterprise and across our other verticals. Our continued innovation is a key factor in our rapid customer acquisition, as we added over 1,200 new customers in the third quarter, a record for the Company.”
It has outperformed many of its cohorts in the 'networking' space. It bounced sharply off its 100 day moving average 3 days ago and provided a nice entry point for the very nimble - (click chart to enlarge).
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