NetScout Systems raises Q1 guidance
Shares of NetScout Systems Inc. (Nasdaq: NTCT) ended the day in the winners’ column on news the Westford, Mass.-based network solutions company raised its first quarter earnings guidance.
The net income for the first quarter of fiscal 2008 ending June 30 will be in the range between $0.06 per share and $0.08 per share, the company announced before the start of trading. Three analysts polled by Thomson Financial were calling for earnings of $0.06 per share. NetScout Systems’ previous guidance was for a profit in between $0.05 per share and $0.06 per share.
“We believe that this quarter is the beginning of the next stage of our market leadership, marked by market share gain, faster revenue growth, and continued operating margin expansion,” President and CEO Anil Singhal said.
Total revenue for the three-month period ending June 30 is expected to be in the range of $27 million to $28 million, above the previous forecast of $26 million to $27 million. That’s between 15% and 19% higher than the $23.6 million NetScout brought in a year ago. Wall Street is calling for revenues of $26.21 million.
Shares closed the day up $0.60, or 7%, to $8.75. The 52-week high of $9.59 was established on March 23. The 52-week low of $5.77 was set on July 21, 2006.
