Procera's Preliminary Q1 Results Exceed Analyst Expectations

Apr. 9.12 | About: Procera Networks, (PKT)

Procera Networks (NASDAQ:PKT), Monday announced its preliminary first quarter 2012 results, citing a potential revenue increase of 71 to 77 percent. The intelligent policy enforcement (IPE) company said that based on preliminary financial data, it expects first quarter revenue results to be in the range of $11.8 million to $12.2 million for the quarter.

Analysts polled on Yahoo Finance forecasted revenues of $11.59 million for the first quarter ending March 31, 2012.

"We are pleased with the outcome for our first quarter of 2012 and the strength of our business model. We continue to gain traction in the fast growing IPE market as evidenced by our strong first quarter results," said Procera president and CEO James Brear.

The company also said that it expects first quarter results to reflect bookings of approximately $14.6 million for the quarter, and operating expenses that include approximately $500,000 of non-recurring business development expenses.

Procera said it expects a gross margin that is greater than 65 percent for the quarter, as compared with 61 percent in the first quarter last year. In its fourth quarter report for 2011, released in February 2012, Procera provided annual revenue guidance for 2012 of 30 percent revenue growth, year-over-year.

"With our industry leading solutions and customized analytics that enable broadband service providers to effectively operate and monetize their networks, we believe 2012 will be the year that Procera establishes itself as the leader in intelligent policy enforcement," said Brear.

The company said it is early in the process of finalizing its financial results for the first quarter and plans to report its final financial results in May 2012.

Procera delivers IPE solutions, leveraging advanced Deep Packet Inspection (DPI) technology. The company said this enables carriers, services providers and higher education institutions to "improve the quality and lifetime of their networks, better monetize their infrastructure investments, control hazards, and create attractive services for their users by making qualified business decisions based on granular user and traffic intelligence."

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