Aerohive Networks, Inc. announced consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total revenue of $37,180,000 compared with $41,697,000 for the same period a year ago. Operating loss was $3,229,000 compared with $7,342,000 for the same period a year ago. Loss before income taxes was $3,188,000 compared with $7,293,000 for the same period a year ago. Net loss was $3,422,000 compared with $7,264,000 for the same period a year ago. Net loss per basic and diluted share was $0.06 compared with $0.14 for the same period a year ago. Non-GAAP operating income was $520,000 compared with loss of $2,370,000 for the same period a year ago. Non-GAAP net income was $327,000 compared with loss of $2,292,000 for the same period a year ago. Non-GAAP basic and diluted net earnings per share were $0.01 compared with loss of $0.04 for the same period a year ago.

For the full year, the company reported total revenue of $152,899,000 compared with $169,825,000 for the same period a year ago. Operating loss was $22,168,000 compared with $36,813,000 for the same period a year ago. Loss before income taxes was $22,323,000 compared with $36,642,000 for the same period a year ago. Net loss was $22,926,000 compared with $36,911,000 for the same period a year ago. Net loss per basic and diluted share was $0.43 compared with $0.73 for the same period a year ago. Non-GAAP operating loss was $4,026,000 compared with $12,635,000 for the same period a year ago. Non-GAAP net loss was $4,784,000 compared with $12,733,000 for the same period a year ago. Non-GAAP basic and diluted net loss per share was $0.09 compared with $0.25 for the same period a year ago. Net cash provided by operating activities was $9,319,000 compared with net cash used in operating activities of $14,554,000 for the same period a year ago. Purchases of property and equipment were $595,000 compared with $2,161,000 for the same period a year ago.

For the company provided earnings guidance for fiscal first quarter 2018. The company currently anticipates first quarter revenues in the range of $34 million to $36 million, and view it as seasonal decline compared to normal first quarter seasonality. On a non-GAAP basis, the company expects gross margins to be in the range of 66% to 67%, driven by the anticipated growth in lower-margin Dell business, impacting product margins, offset by continued strong margins from subscription and support business. The company expecting non-GAAP EPS results between $0.08 and $0.06 per share based on a share count of approximately 54 million shares outstanding.