Palo Alto Networks Posts Sales of $75.6 Million

Palo Alto Networks recorded fiscal fourth quarter revenue of $75.6 million, compared with $40.2 million in the same period last year. GAAP net loss for the fiscal fourth quarter was $4.6 million, or $0.18 per basic and diluted share, compared with a net loss of $6.0 million, or $0.40 per basic and diluted share, in the fiscal fourth quarter of 2011.

For fiscal 2012, total revenue grew 115 percent to $255.1 million, compared with $118.6 million in fiscal 2011. GAAP net income was $0.7 million, or $0.00 per diluted share, in fiscal 2012, compared with a net loss of $12.5 million, or $0.88 per diluted share, in fiscal 2011.  Non-GAAP net income for fiscal 2012 was $14.7 million, or $0.14 per diluted share, compared with a net loss of $7.8 million, or $0.55 per basic and diluted share, in fiscal 2011.

“The fourth quarter was a strong finish to a great year for Palo Alto Networks,” said Mark McLaughlin, president and chief executive officer of Palo Alto Networks.  “In our first quarter as a public company, we achieved record revenue and grew our customer base to over 9,000 customers.  For the year, we grew revenue 115 percent, clearly outpacing the market and demonstrating the power of our technology.”

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