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Technology / Networks

Blue Coat swings to loss in Q2

Operating income was $1.6m compared to operating income of $6.9m in the same period last year. The diluted net loss per share was $0.01 compared to diluted EPS of $0.17 last year. Cash flow provided by operations was $27.1m.

The company said product revenue grew 49% to $84.79m, while services revenue increased to $34.22m compared to $16.71m in the same period last year.

For the six-month period, the company reported a net loss of $6.08m compared to net income of $9.59m in the same period a year earlier, on revenue up 63% at $221.52m.

Brian NeSmith, president and chief executive at Blue Coat, said: Despite a difficult economic environment, Blue Coat continued to execute its strategy during the second quarter. We have largely completed the integration of Packeteer, which we acquired in June, and recognized approximately $25m in net revenue from the acquired business in the second quarter. In addition, we achieved integration between our ProxySG appliances and the PacketShaper appliances we acquired from Packeteer.

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Looking ahead to the third quarter, the company expects revenue between $106m and $112m and a net loss per share between $0.12 and $0.03.

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CBR Staff Writer

CBR Online legacy content.