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Gigamon Reports Q4

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2/5/2014
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SILICON VALLEY, Calif. -- Gigamon Inc. (NYSE:GIMO), a leader in traffic visibility solutions with the innovative Visibility Fabric architecture, today released financial results for the fourth quarter and fiscal year ended December 28, 2013.

Fiscal Fourth Quarter 2013 Financial Highlights:

  • Revenues for the fourth quarter of fiscal 2013 were $43.1 million, compared to $31.9 million in the fourth quarter of fiscal 2012, representing growth of 35% year-over-year.
  • GAAP gross margins of 80% in the fourth quarter of fiscal 2013, compared to 79% in the fourth quarter of fiscal 2012.
  • Non-GAAP gross margins of 81% in the fourth quarter of fiscal 2013, compared to 79% in the fourth quarter of fiscal 2012.
  • GAAP net loss for the fourth quarter of fiscal 2013 was $0.1 million, or $0.00 per diluted share, compared to GAAP net income of $2.1 million, or $0.12 per diluted share, in the fourth quarter of fiscal 2012.
  • Non-GAAP net income for the fourth quarter of fiscal 2013 was $6.0 million, or $0.18 per diluted share, compared to non-GAAP net income of $4.9 million, or $0.28 per diluted share, in the fourth quarter of fiscal 2012.
  • We generated $22.5 million of cash from operations. Fiscal Year 2013 Financial Highlights:
  • Revenues for fiscal year 2013 were $140.3 million, compared to $96.7 million in fiscal year 2012, representing growth of 45% year-over-year.
  • GAAP gross margins of 78% in fiscal year 2013, compared to 79% in fiscal year 2012.
  • Non-GAAP gross margins of 81% in fiscal year 2013, compared to 79% in fiscal year 2012.
  • GAAP net loss for fiscal year 2013 was $9.5 million, or $0.39 per diluted share, compared to GAAP net income of $3.6 million, or $0.21 per diluted share, in fiscal year 2012.
  • Non-GAAP net income for fiscal year 2013 was $15.9 million, or $0.53 per diluted share, compared to non-GAAP net income of $11.1 million, or $0.62 per diluted share, in fiscal year 2012.
  • We generated $23.6 million of cash from operations. "We are pleased to have exceeded our guidance for both revenue and earnings in the fourth quarter," said Paul Hooper, CEO of Gigamon. "In the quarter we added 92 new customers, including 15 Fortune 1000 companies, continued to expand our portfolio of pervasive visibility and traffic intelligence solutions and laid the foundation for continued growth in 2014."

    Gigamon Systems LLC

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