Procera Networks (PKT) Boosts Q4, FY14 Outlook

Procera Networks (NASDAQ: PKT) announced preliminary revenue, bookings, gross margin rate, and net income results for the fourth quarter ended December 31, 2014.

Revenue for the fourth quarter of 2014 is now expected to be in the range of $23.5 million to $24.5 million. The ratio of bookings to revenue for the fourth quarter was above one. The company expects the gross margin rate to be around 60%, to incur a net operating loss on a GAAP basis and to be profitable on a non-GAAP basis for the fourth quarter of 2014. For the fiscal year ended December 31, 2014, the company expects revenue to be in the range of $74 million to $75 million and expects to incur a net operating loss on both a GAAP and non-GAAP basis.

*** The Street is looking for Q4 revs of $20.9 million and loss of $0.01 per share. FY14 revenue is expected at $72.2 million.

"The results of the quarter represent a recovery driven by the strength of our product portfolio and sales pipeline," said James Brear, President and CEO of Procera Networks. "We are executing on our sales plan and new product initiatives and believe we are well positioned for 2015 as we continue to work toward the primary goal of driving value for our shareholders."

The above information is preliminary and subject to Procera Networks' normal year-end accounting process and audit. Therefore, actual results may vary materially from these preliminary results. The date and details for the fourth quarter and fiscal year 2014 earnings announcement and conference call will be announced at a future date.

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