Palo Alto Networks Reports Fiscal Fourth Quarter and Fiscal Year 2014
Fiscal fourth quarter total revenue grows 59 percent year-over-year to a record $178.2 million
Fiscal year 2014 revenue grows 51 percent year-over-year to $598.2 million
Fiscal fourth quarter product revenue grows 52 percent year-over-year to $99.7 million; recurring subscription revenue grows 74 percent year-over-year to $37.6 million
Fiscal fourth quarter billings grow 64 percent year-over-year to a record $232.9 million
SANTA CLARA, Calif., September 9, 2014 - Palo Alto Networks, Inc. (NYSE: PANW) today announced financial results for its fiscal fourth quarter and fiscal year 2014 ended July 31, 2014.
Total revenue for the fiscal fourth quarter grew 59 percent year-over-year to a record $178.2 million, compared with $112.4 million in the fiscal fourth quarter of 2013. GAAP net loss for the fiscal fourth quarter was $32.1 million, or $0.41 per diluted share, compared with a net loss of $15.8 million, or $0.22 per diluted share, in the fiscal fourth quarter of 2013.
Palo Alto Networks recorded fiscal fourth quarter non-GAAP net income of $9.1 million, or $0.11 per diluted share, compared with non-GAAP net income of $5.5 million, or $0.07 per diluted share, in the fiscal fourth quarter of 2013. A reconciliation between GAAP and non-GAAP information is contained in the tables below.
“We delivered a record finish to fiscal year 2014 with fourth quarter revenue growth driven by continued rapid adoption of our unique enterprise security platform,” said Mark McLaughlin, president and chief executive officer of Palo Alto networks. “Our platform is built from the ground up to solve the most complex security issues and provides tightly integrated and automated detection and prevention capabilities at enterprise-class performance levels. Our results demonstrate that enterprises around the world are turning to Palo Alto Networks as their strategic partner in the cyber security battle.”
For fiscal year 2014, total revenue grew 51 percent to $598.2 million, compared with $396.1 million in fiscal year 2013. GAAP net loss was $226.5 million, or $3.05 per diluted share, in fiscal year 2014, compared with net loss of $29.2 million, or $0.43 per diluted share, in fiscal year 2013. Non-GAAP net
The following information was filed by Palo Alto Networks Inc (PANW) on Tuesday, September 9, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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