Infoblox (BLOX), the automated network control company 
saw its loss widen to $10.21 million, or $0.18 a share for the quarter ended Oct. 31, 2014. In the previous year period, the company reported a loss of $2.55 million, or $0.05 a share. On the other hand, adjusted net income for the quarter stood at $2.96 million, or $0.05 a share compared with $7.07 million or $0.12 a share, a year ago.
Revenue during the quarter grew 5.03 percent to $66.72 million from $63.52 million in the previous year period. Gross margin for the quarter contracted 80 basis points over the previous year period to 77.62 percent. Operating margin for the quarter stood at negative 13.79 percent as compared to a negative 3 percent for the previous year period.
Operating loss for the quarter was $9.20 million, compared with an operating loss of $1.90 million in the previous year period. However, the adjusted operating income for the quarter stood at $3.64 million compared to $7.72 million in the prior year period. At the same time, adjusted operating margin contracted 670 basis points in the quarter to 5.45 percent from 12.15 percent in the last year period.
"We were pleased with our execution in the quarter, and our ability to deliver top- and bottom-line results that exceeded our expectations," said Robert Thomas, president and chief executive officer of Infoblox. "During the quarter, we made good progress in new customer acquisition and added some marquee names. The EMEA region also helped drive our performance and was up 14% year-over-year. Finally, both our security and private cloud offerings also performed well, with revenue up quarter-over-quarter. We believe Infoblox is well positioned to maintain its momentum in Fiscal 2015, due to a combination of ongoing demand for our DDI solutions, along with a growing pipeline of security and private cloud opportunities."
For the second fiscal quarter ending Jan. 31, 2015, the company currently expects total net revenue to be in the range of $66.5 million to $68.5 million and non-GAAP diluted net income per share to be in the range of $0.04 to $0.05.
Cash Flow Infoblox has generated cash of $12.30 million from operating activities during the quarter, down 17.52 percent or $ 2.61 million, when compared with the last year period.
The company has spent $12.99 million cash to meet investing activities during the quarter as against cash outgo of $7.01 million in the last year period.
Cash flow from financing activities was $2.14 million for the quarter, down 67.26 percent or $4.39 million, when compared with the last year period. It has raised net of $1.54 million by selling common stocks.
Cash and cash equivalents stood at $79.54 million as on Oct. 31, 2014, down 5.58 percent or $4.70 million from $84.24 million on Oct. 31, 2013.
Working Capital
Infoblox has recorded an increase in the working capital over the last year. It stood at $215.45 million as at Oct. 31, 2014, up 18.89 percent or $34.24 million from $181.21 million on Oct. 31, 2013. Current ratio was at 2.83 as on Oct. 31, 2014, up from 2.82 on Oct. 31, 2013.
Cash conversion cycle (CCC) has increased to 92 days for the quarter from 90 days for the last year period. Days sales outstanding went down to 50 days for the quarter compared with 57 days for the same period last year.
Days inventory outstanding has increased to 42 days for the quarter compared with 33 days for the previous year period.
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