Palo Alto Networks set to release first quarterly report this week after going public in June

Palo Alto Networks is slated to release the quarterly report on fiscal fourth quarter ended July 31 this week. The company went public in June and this will be its first public announcement of the financial report to the investors.

The company is expected to show a profit, analysts say. The joint poll conducted by Thomson Reuters suggests that analysts are of the opinion that Palo Alto Networks will report quarterly revenues of $71.3 Million, up 77 percent from the year-ago period.

The estimated profit per share is expected to hit a breakeven ex items, which is above the 9-cent loss the company reported last year.

“(Palo Alto) is likely to deliver strong fiscal fourth-quarter results, based on strong across-the-board demand for its next generation firewall products and distribution expansion,” Jonathan Ho, an analyst at William Blair & Co., wrote in a research report this week.

Ho expects the company to make heavy investments in operations this year after the increasing demand in network security. However, he also anticipates a revenue growth from higher sales.

PAN develops network firewall products that are widely used for security from outside threats by corporate sector. Firewalls restrict outside malware, spyware and viruses from probing inside of a network.

Of late malicious software developers and hacking groups—that have become organized communities—have come to great action in hacking their ways into corporate and government level networks. This has increased the demand of network securities like firewalls, both software and hardware.

However, Palo Alto Networks is not the only company that deals with this domain. The likes of Cisco, Check Point Software, Fortinet and Symantec also offer competitive products.

PANW went public in June this year with a face value of shares at $42. The market value rose to $53 at the end of the day and since then it has been in the upward direction. The trading ended $70.90 on Friday.

Short URL: https://www.newspakistan.pk/?p=32444

Posted by Usman Khalid on Sep 11 2012. Filed under Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.