Aerohive Networks, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Third Quarter of 2018
For the six months, the company reported total revenue of $76,242,000 compared to $78,530,000 a year ago. Operating loss was $10,082,000 compared to $12,490,000 a year ago. Loss before income taxes was $10,007,000 compared to $12,641,000 a year ago. Net loss was $10,149,000 compared to $12,935,000 a year ago. Net loss per share, basic and diluted was $0.19 compared to $0.24 a year ago. Net cash provided by operating activities was $5,050,000 compared to $2,376,000 a year ago. Purchases of property and equipment were $1,439,000 compared to $466,000 a year ago. Non-Gaap operating loss was $2,604,000 compared to $3,096,000 a year ago. Basic and Diluted Non-Gaap net loss was $2,671,000 or $0.05 basic and diluted share compared to $3,541,000 or $0.07 per basic and diluted share a year ago.
For the third quarter of 2018, the company currently anticipated revenue in the range of $40 million to $42 million. On a non-GAAP basis, the company expects gross margins to be in the range of 65.5% to 66.5%. On a non-GAAP basis, the company expects its operating margins to be between breakeven and 2%. The company expects non-GAAP EPS to be between breakeven and $0.02 and based on an estimated average share count of approximately 57 million share outstanding. On a GAAP basis, the company expects net loss per share to be between $0.08 and $0.06 based on $55 million weighted average common shares outstanding.