SUNNYVALE, Calif. (AP) — Wireless networking technology company Aruba Networks said Wednesday that its net loss widened in its fiscal second quarter, hurt by stock-based expenses and restructuring charges.
For the period ended Jan. 31, the company posted a loss of $6.8 million, or 8 cents per share, compared with a year-earlier loss of $3.5 million, or 4 cents per share.
Special charges in the quarter included $6.1 million in stock-based expenses, $1.2 million in amortization expense of acquired intangible assets and a $1.4 million restructuring charge.
Without the charges, adjusted net income came in at 2 cents per share, up from a penny a year ago, the company said.
Revenue grew 17 percent to $47.7 million from $40.6 million.
Analysts polled by Thomson Reuters expected, on average, revenue of $45.5 million.
Following the issuance of the report of results, Aruba shares gained 32 cents, or 12 percent, to $3.08 in after-hours trading. In the regular session before the report, the stock fell 12 cents, or 4.2 percent, to close at $2.76.