CacheFlow tops 2Q expectations

CacheFlow (Nasdaq: CFLO) lost less than analysts expected in the second quarter.

After market close Tuesday, the vendor of network caching devices and technology reported a fiscal second quarter loss of $3.1 million, or 9 cents per share, excluding special charges. First Call's survey of seven analysts called for a loss of 11 cents per share for the quarter ended Oct. 31.

Shares of CacheFlow dropped to 65.125 in afterhours activity on the Island electronic communications network, immediately following the release of quarterly results. CacheFlow stock tumbled 14.8125 to 76.8125 in Tuesday's regular trading ahead of the second quarter report.

Including amortization and stock compensation charges, CacheFlow lost $25.6 million, or 75 cents per share.

Second quarter revenue increased 573 percent year-over-year and 45 percent sequentially to $32.5 million. The company saw strong growth in all markets, said Brian NeSmith, CEO and president.

Tuesday's marks CacheFlow's first financial report since founder Michael Malcolm resigned as chairman earlier this month. CacheFlow has topped consensus analyst forecasts every quarter since going public a year ago.

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