Meru Networks, Inc. (MERU) Misses Q1 EPS by 4c

Meru Networks, Inc. (NASDAQ: MERU) reported Q1 EPS of ($0.23), $0.04 worse than the analyst estimate of ($0.19). Revenue for the quarter came in at $20.6 million versus the consensus estimate of $22.02 million.

"We continue to invest in the company as demonstrated by the expansion of our 802.11ac product portfolio with the two new access points and software releases," said Dr. Bami Bastani, president and CEO, Meru Networks, "These new products open Meru to a much broader mid-range market and should drive further growth in our core verticals. Moving forward, we believe our technology leadership in 802.11ac, strong execution and unique competitive differentiation positions us for growth as we move into the second half of the year."

For earnings history and earnings-related data on Meru Networks, Inc. (MERU) click here.

You May Also Be Interested In

• Verizon to cut 3,000 jobs as it shifts stores to franchises
• Array Technologies to acquire wire management firm for $203M
• DBV Technologies (DBVT) Misses Q2 EPS by 12c