ATEN - A10 Networks shares jumps after Q3 earnings tops estimates; initiates quarterly dividend

A10 Networks (NYSE:ATEN) up 9% after yesterday's third-quarter results beat top and bottom-line estimates. Total revenue grew 15% year-over-year to $65.36M, above the consensus of $62.5M. Adjusted EPS was $0.17, coming in $0.03 ahead of consensus estimates. Sales of security products grew 18% year-over-year. “We achieved strong top- and bottom-line results as our security-led solutions are enabling us to capture market share and driving accelerated growth,” says Dhrupad Trivedi, President and CEO. Adjusted EBITDA was $16.8M, representing 25.7% of revenues, compared to $12.5M in the third quarter of 2020. Cash and cash equivalents as of September 30, 2021 was $187.5M, up $20.6M from the $166.8M at June 30, 2021. The Board of Directors declared a quarterly dividend of $0.05 per share, payable on December 15, 2021 to stockholders of record on November 12, 2021. In addition, the Board authorized a new share repurchase program of up to $100M of its outstanding common stock.

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A10 Networks shares jumps after Q3 earnings tops estimates; initiates quarterly dividend