On Tuesday Aerohive Networks, Inc. (NYSE; HIVE) shares price traded between $3.99 and $4.08 during the last trading session upbeat/downbeat with +1.51 percent at $+0.06. Over the one year trading period, the stock has a peak price of $6.50 and its down is recorded at $3.54. The short ratio in the stock is 2.04 and the short float is around of 1.86 percent.
Aerohive Networks™ (HIVE) recently reported financial results for its second quarter ended June 30, 2018.
“We’re happy with our performance in the second quarter, as we continue to improve our execution and strengthen our financial foundation. We grew our Enterprise business by double digits, which has further lowered our dependence on the U.S. K-12 market,” stated David Flynn, President and Chief Executive Officer. “We’re excited to continue the momentum created by our recent new product introductions and are happy with the strong interest in A3, our first standalone security product.”
Total revenue for the second quarter of fiscal year 2018 was $40.5M, contrast with $42.2M for the second quarter of 2017. Subscription and support revenue was $11.2M, or 28 percent of total revenue, for the second quarter of fiscal year 2018, contrast with $10.1M, or 24 percent of total revenue, for the second quarter of 2017.
On a GAAP basis, net loss was $2.8M for the second quarter of fiscal year 2018, contrast with a net loss of $3.8M for the second quarter of 2017. GAAP gross margin was 66.0 percent for the second quarter of fiscal year 2018, contrast with 67.7 percent for the second quarter of 2017.
On a non-GAAP basis, net income was $0.9M for the second quarter of fiscal year 2018, contrast with a net income of $0.7M for the second quarter of 2017. Non-GAAP gross margin was 66.7 percent for the second quarter of fiscal year 2018, contrast with 68.5 percent for the second quarter of 2017.
New Accounting Standard
The Company adopted ASC 606, the new accounting standard related to revenue recognition, effective January 1, 2018. The Company has adjusted prior-period information to reflect the adoption of this new standard.
(HIVE) is recorded at 0.12 and the relative strength index of the stock stands 48.40. The stock price is going above to its 52 week low with 14.12 percent and lagging behind from its 52 week high with -37.85 percent. Analyst recommendation for this stock stands at 2.60.
Vincent Delaney – Entertainment
Having won over numerous scholarships for courses based on music content development, I have been a ghostwriter for more than 6 years. Being a permanent music review writer over all the musical genres, I have learned a lot and looking forward to taking my writing career in a new direction.