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Aerohive Networks Q1 loss narrows YOY

Aerohive Networks Inc. said its first-quarter normalized net income was a loss of 16 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 16 cents per share.

The per-share loss narrowed 25.6% year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $7.7 million, compared with a loss of $9.8 million in the prior-year period.

The normalized profit margin climbed to negative 19.3% from negative 37.9% in the year-earlier period.

Total revenue climbed 55.4% on an annual basis to $40.1 million from $25.8 million, and total operating expenses grew 28.4% year over year to $52.5 million from $40.9 million.

Reported net income came to a loss of $12.5 million, or a loss of 25 cents per share, compared to a loss of $15.8 million, or a loss of 34 cents per share, in the year-earlier period.