palo alto networks inc (PANW) Key Developments
Palo Alto Networks Hires Sean Duca as Vice President & Regional Chief Security Officer for Asia Pacific
Jun 17 15
Sean Duca has been named as new Vice President & Regional Chief Security Officer (CSO) for Asia Pacific by Palo Alto Networks. In his new role, Duca would held the responsibility for the development of threat intelligence, security best practices and thought leadership for Palo Alto Networks in the region, comprising strengthening security initiatives and maintaining good channels of communications and support for the Palo Alto Networks customers across Asia Pacific.
Palo Alto Networks Expands Breach Prevention Capabilities and Boosts Operational Efficiency for Security Teams
Jun 9 15
Palo Alto Networks announced enhancements to its security platform designed to safely enable applications and prevent cyber breaches. The advancements announced today, which are included in the PAN-OS 7.0 release, expand the prevention capabilities of the platform through enhanced analysis, automation and operational efficiencies " all designed to help customers block threats from compromising their networks, endpoints and cloud-enabled data centers. As the threat landscape grows increasingly complex, many IT security teams struggle to keep pace with advanced threats because they're overwhelmed by the volume of alerts generated by legacy, point security and threat detection products. There is little analysis or automation that helps quickly identify and automatically prevent threats at the earliest stages of the attack lifecycle. The Palo Alto Networks security platform and the new features introduced help security professionals overcome the inertia caused by the overwhelming volume of alerts and manual processes associated with operating many discrete security products, and, instead, expand breach prevention capabilities and boost operational efficiency. Key new advancements include: A new Automated Correlation Engine that identifies and prevents compromised hosts in an organization's network by correlating patterns to pinpoint malicious activity. WildFire threat intelligence enhancements that enable automated analysis of files against multiple versions of applications to identify malware specifically targeting legacy versions; the enhancements also classify malware by threat level, so teams can better prioritize their threat response for quick preventative action when needed. A new high-capacityNetwork Processing Card for the PA-7050 that provides prevention at scale for data center environments with higher 10G port density and new 40G ports. Advanced policy management capabilities within Panorama that make it even easier to create security policies and device configurations that can be easily and appropriately applied to many next-generation firewall instances, physical or virtual, reducing the chances for human error and gaps in the policy or configuration.
Palo Alto Networks Seeks Acquisitions
Jun 3 15
Palo Alto Networks, Inc. (NYSE:PANW) is looking for acquisition opportunities. Kelsey Turcotte, Vice President of IR said, "So when we see an opportunity to make an early-stage acquisition that we can integrate, that makes the platform more effective and also improves that particular product, we think it's a great opportunity."
Palo Alto Networks, Inc. Enter into Three Lease Agreements with Santa Clara Campus Property Owner I LLC
Jun 1 15
On May 28, 2015, Palo Alto Networks, Inc. entered into three lease agreements with Santa Clara Campus Property Owner I LLC (the Landlord) to lease office space (the leased property) located on land bordered by Tannery Way, Lakeside Drive, Scott Boulevard and Garrett Drive in Santa Clara, CA (the Project Site). The Leased Property will consist of (i) an approximately 310,000 rentable square foot building and an approximately 30,000 rentable square foot amenities building to be constructed on the project site (the First Lease), (ii) an approximately 290,000 rentable square foot building to be constructed on the project site (the Second Lease), and (iii) approximately 121,953 rentable square feet of space in an existing building located at 3325 Scott Boulevard, Santa Clara, CA (the third lease, and together with the first lease and the second lease, the leases). The term of the First Lease and Second Lease are each approximately 132 months commencing approximately nine months following substantial completion of the core and shell of the buildings. Under the First Lease and Second Lease, base rent will be free of charge for the first year, and thereafter will be approximately $3.02 per rentable square foot during the second year, with annual increases each year thereafter, as indicated in each respective lease. In addition, under the first lease and second lease, the Landlord must construct the building cores and shells at the Landlord's cost and expense and provide the company with a tenant improvement allowance in the amount of up to $60.00 per rentable square foot of the premises for the construction of the initial improvements required by the company. The first lease and second lease contain a one-time option for the company to lease an additional 300,000 rentable square foot building to be constructed by Landlord at company's election at the project site. The term of the third lease is approximately 60 months and is expected to commence on May 1, 2016, with a base monthly rent of approximately $2.95 per rentable square foot during the first year with annual increases each year thereafter, as in the third lease. The third lease is terminable by the company during the first nine months of the initial term of the first lease and second lease and may be extended to be co-terminus with the first lease and second lease. The rights and obligations of the company under the Leases are each conditioned upon the closing by the Landlord of an acquisition of certain real property located at 3535 Garret Drive on or prior to June 9, 2015.
Palo Alto Networks, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended April 30, 2015; Provides Earnings Guidance for the Fiscal Fourth Quarter 2015; Provides CapEx Guidance for 2015
May 27 15
Palo Alto Networks, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended April 30, 2015. For the quarter, total revenue was $234,172,000 against $150,700,000 a year ago. Operating loss was $36,724,000 against $145,732,000 a year ago. Loss before income taxes was $42,410,000 against $145,315,000 a year ago. Net loss was $45,935,000 against $146,587,000 a year ago. Net loss per share, basic and diluted was $0.56 against $1.96 a year ago. Capital expenditures in the quarter totaled $9.8 million.
For nine months, total revenue was $644,173,000 against $419,948,000 a year ago. Operating loss was $99,003,000 against $189,899,000 a year ago. Loss before income taxes was $115,032,000 against $189,269,000 a year ago. Net loss was $119,011,000 against $194,394,000 a year ago. Net loss per share, basic and diluted was $1.47 against $2.66 a year ago. Net cash provided by operating activities was $238,979,000 against $114,556,000 a year ago. Purchases of property, equipment, and other assets were $21,862,000 against $31,379,000 a year ago.
For the fiscal fourth quarter 2015, the company expects total revenue in the range of $252 million to $256 million, representing year-over-year growth between 41% and 44% and diluted non-GAAP earnings per share in the range of $0.24 to $0.25 using 88.5 million to 90.5 million shares.
The company expect CapEx for the fiscal year 2015 to be in the range of $40 million to $45 million for the year.