Industry News Desk
Gigamon Reports First Quarter 2014 Financial Results
Revenues for the first quarter of fiscal 2014 were $31.8 million, compared to $25.8 million
By: Elizabeth White
Apr. 24, 2014 04:06 PM
Gigamon® Inc. (NYSE: GIMO), has released financial results for the first quarter ended March 29, 2014.
"Our revenue shortfall in the first quarter was impacted by one expected large transaction from an existing customer in EMEA that did not materialize and certain other transactions that were expected to close late in the quarter that slipped into the second quarter," said Paul Hooper, CEO of Gigamon. "We remain confident in our business strategy and in our continued market leadership driven by the versatility and intelligence of our GigaVUE technology and GigaSMART applications platform."
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Non-GAAP Financial Measures
In addition to disclosing financial measures prepared in accordance with U.S. generally accepted accounting principles (GAAP), this press release and the accompanying tables contain certain non-GAAP financial measures. Non-GAAP financial measures do not have any standardized meaning and are therefore unlikely to be comparable to similarly titled measures presented by other companies. Gigamon considers these non-GAAP financial measures to be important because they provide useful measures of the operating performance of the company, exclusive of unusual events or factors that do not directly affect what we consider to be our core operating performance, and are used by the company's management for that purpose. In addition, investors often use similar measures to evaluate the operating performance of a company. Non-GAAP financial measures are presented for supplemental informational purposes only for understanding the company's operating results. The non-GAAP financial measures should not be considered a substitute for financial information presented in accordance with GAAP. Please see the reconciliation of non-GAAP financial measures to the most directly comparable GAAP measure attached to this release.
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