2013-02-22 18:35:24 - Stocks on the move include Lustous (LSTS), Aruba Networks (ARUN) and Infoblox (BLOX).
LUSTROS (OTCBB: LSTS) $0.72, Up 13%. Announced earlier this week that William Farley has accepted the position of Chairman and Chief Executive Officer.Our current CEO, Gonzalo Troncoso, will remain as President. Making the announcement Mr. Troncoso said, “I am pleased to say that we are nearing completion of a copper sulfate processing facility, which will clearly give us a first class manufacturing capability. In addition, we have created an entirely new subsidiary, Mineraltus SA, to process tailings, which will allow us to expand our copper sulfate business significantly.
“We continue to strengthen our management team and are very pleased that Bill, as a major shareholder and investor, is joining the Lustros management team. Bill has extensive experience in manufacturing, mining, and
finance and brings a wealth of knowledge and experience to our company. I, as President, will continue to be intimately involved in all our operations in Chile.”
Regarding his appointment, Bill Farley commented, “Having been a significant, early investor in Lustros, I am now pleased to be an active member of management. I am committed and motivated to complete the copper sulfate plant, begin production, and generate significant positive cash flow for the company.”
Mr. Farley is the sole shareholder of Liam Ventures, Inc., a private equity firm with investments in various industries including technology, communications, railroad, and basic industries. Mr. Farley is also CEO and owner of Zrii International in Salt Lake City, Utah, a liquid nutritional marketer. He served as chairman and chief executive officer of Farley, Inc. and Fruit of the Loom, Inc. from the time he acquired the company in 1986 through December 1999. During that time, he built FTL from a primarily domestic $500 million underwear company into a leading international manufacturer and marketer of basic family apparel with sales approximating $2.3 billion for the 1999 fiscal year. Fruit of the Loom was sold to Berkshire Hathaway Co. in 2002 for approximately $1 Billion.
What They Do: Lustros, Inc., through its Chilean subsidiaries, is in the business of copper mining and the manufacturing of food-grade copper sulfate.
Aruba Networks (Nasdaq: ARUN) $24.97, Up 20$. Announced Thursday after market close financial results for its second quarter of fiscal year 2013 ended January 31, 2013.Revenue for Q2’13 of $155.4 million grew 23 percent from the $126.3 million reported in Q2’12. GAAP net income for Q2’13 was $5.0 million, or $0.04 per share, compared with GAAP net loss of $11.4 million, or $0.11 per share, in Q2’12.
Non-GAAP net income for Q2’13 was $27.3 million, or $0.22 per share, compared with Q2’12 non-GAAP net income of $19.4 million, or $0.16 per share. GAAP and Non-GAAP earnings per share included a $0.02 per share benefit related to the reinstatement of the U.S. federal research and development (R&D) tax credit on January 2, 2013. A reconciliation between GAAP and non-GAAP information is contained in the tables below.
What They Do: Aruba Networks is a leading provider of next-generation network access solutions for the mobile enterprise.
Infoblox (Nasdaq: BLOX) Trading at $22.25, Up 16%. Today reported its financial results for its second fiscal quarter ended January 31, 2013. Total net revenue for the second quarter of fiscal 2013 was a record $54.4 million, an increase of 32% on a year-over-year basis.
On a GAAP basis, the Company reported a net loss of $3.2 million, or $0.07 loss per fully diluted share, for the second quarter of fiscal 2013, compared with a net loss of $1.1 million, or $0.10 loss per fully diluted share, in the second quarter of fiscal 2012.
The Company reported non-GAAP net income of $3.0 million, or $0.06 earnings per share on a non-GAAP weighted average share basis, for the second quarter of fiscal 2013, compared with non-GAAP net income of $1.6 million, or $0.04 earnings per share on a non-GAAP weighted average share basis, in the second quarter of fiscal 2012. The GAAP to non-GAAP reconciling items for the second quarters of fiscal 2013 and 2012 can be found in the "Reconciliation of GAAP to non-GAAP Financial Measures" attached to this press release.
What They Do: Infoblox delivers Automated Network Control solutions, the fundamental technology that connects end users, devices and networks.
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