Aerohive Networks, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported total revenue of $40,475,000 compared to $42,201,000 a year ago. Operating loss was $2,871,000 compared to $3,544,000 a year ago. Loss before income taxes was $2,748,000 compared to $3,620,000 a year ago. Net loss was $2,832,000 compared to $3,817,000 a year ago. Net loss per share, basic and diluted was $0.05 compared to $0.07 a year ago. On a non-GAAP basis, net income was $0.9 million for the second quarter of fiscal year 2018, compared with a net income of $0.7 million for the second quarter of 2017. Non-GAAP gross margin was 66.7% for the second quarter of fiscal year 2018, compared with 68.5% for the second quarter of 2017. Non-Gaap operating income was $812,000 compared to $955,000 a year ago. Non-Gaap net income was $851,000 or $0.02 basic and diluted share per share compared to $662,000 or $0.01 a year ago.

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.