NetScout Systems Q1 Profit Declines, But Beats View - Quick Facts

(RTTNews) - NetScout Systems Inc. (NTCT) reported first-quarter net income of $7.67 million or $0.19 per share, down from $11.48 million or $0.27 per share in the prior-year quarter.

The company noted that its financial results for the latest quarter do not include any contribution from Danaher's Communications Business, which was acquired on July 14, 2015.

Adjusted earnings for the quarter were $13.7 million or $0.33 per share, compared to $15.2 million or $0.36 per share in the year-ago period.

On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.32 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter decreased 7 percent to $100.71 million from $107.85 million last year. Analysts expected revenue of $103.87 million for the quarter.

With the completion of NetScout's acquisition of Danaher's Communications Business, the company provided financial outlook for the combined company.

For fiscal 2016, NetScout forecast revenue in a range of about $1.006 billion to $1.056 billion, with adjusted revenue, which reflects the deferred revenue fair value adjustment related to the transaction, in a range of $1.05 billion to $1.1 billion.

The company also forecast full-year reported income per share of $0.40 to $0.55 and adjusted earnings of $1.80 to $1.95.

The Street expects the company to report earnings of $2.18 per share for the year on revenues of $503.14 million.