Barracuda Networks Q2 Adj. Profit Tops Estimate; Revenue Falls Shy

(RTTNews) - Barracuda Networks, Inc. (CUDA) reported a net loss for the second quarter of $2.2 million or $0.04 per share, compared to net income of $0.7 million or $0.01 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $5.6 million or $0.10 per share, compared to $4.6 million or $0.08 per share in the prior year quarter.

Total revenue for the second quarter rose 14% to $78.37 million from $68.65 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.09 per share on revenue of $78.69 million for the second quarter. Analysts' estimates typically exclude special items.

Barracuda Networks also said that it has agreed to buy privately held Intronis Inc, a provider of data protection solutions to managed service providers. Financial terms of the deal were not disclosed.

Barracuda Networks shares are currently losing 16.18% in after hours trading after closing Tuesday's regular trading session at $23.55, down $1.08 or 4.38%.