Palo Alto Networks posts strong Q4, sees strong demand

Summary:Palo Alto, which makes next-gen firewalls, security appliances and platforms, added more than 4,800 customers during the fiscal year.

Network security company Palo Alto Networks delivered strong fourth quarter sales and said it was seeing gains in multiple industries.

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The company reported a fourth quarter net loss of $15.8 million, or 22 cents a share, on revenue of $112.4 million, up 49 percent from a year ago. Non-GAAP earnings in the fourth quarter was 6 cents a share. Non-GAAP earnings in the quarter were hit by a penny a share due to IP litigation expenses.

Wall Street was looking for earnings of 6 cents a share on a non-GAAP basis on revenue of $109 million.

Palo Alto, which makes next-gen firewalls, security appliances and platforms, added more than 4,800 customers during the fiscal year.

For fiscal 2013, Palo Alto reported a net loss of $292 million, or 43 cents a share, on revenue of $396.1 million, up 55 percent from a year ago. Non-GAAP earnings for the year were 21 cents a share.

Topics: Security, Networking

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Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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