Stock Alert: A10 Networks Up 10%

(RTTNews) - Shares of networking solutions provider A10 Networks, Inc. (ATEN) are climbing more than 10% Thursday morning after the company reaffirmed first quarter results amidst the rapidly spreading coronavirus epidemic.

For the firs-quarter, A10 expects revenue to be in the range of $51 million to $53 million and adjusted EPS to be in the range of $0.01 to $0.03. Analysts polled by Thomson Reuters have a consensus earnings estimate of $0.01 on revenue of $50.33 million. Dhrupad Trivedi, President and Chief Executive Officer of A10 Networks, commented, "Thankfully, to date, we have not experienced any meaningful negative impact to our business or our supply chain, and we anticipate our first quarter financial results to be in line with the guidance provided in our fourth quarter earnings release."

"Amidst the global quarantine and shelter in place orders, networks across the globe are being stressed with unprecedented usage and increasing demand for bandwidth, underscoring the need for the critical communications infrastructure solutions we provide. We are taking the necessary steps to mitigate any potential disruption given the macro uncertainty and unprecedented nature of the current environment, while remaining focused on the significant opportunity in front of us," he added.

ATEN is currently trading at $5.41. It has trade in the range of $3.43- $8.29 in the past one year.