MOUNTAIN VIEW, Calif.,
Jan. 10, 2017 /PRNewswire/
-- MobileIron (NASDAQ: MOBL), the security backbone for modern
computing, today raised guidance for the fourth quarter of the
fiscal year 2016 ended December 31,
2016.
Fourth Quarter 2016 Preliminary Results
Gross billings for the fourth quarter are expected to be in the
range of $54.5-$55.5 million, above
the company's previous guidance of $52-$54
million. Total revenues are anticipated to be between
$44.5-$45.5 million, compared to
previous guidance of $44-$46 million.
Non-GAAP operating expenses are expected to be at the low end of
the company's guidance of $41-$43
million. The company generated approximately $8 million of cash from operations achieving its
long held target of being operating cash flow positive in the
fourth quarter of fiscal 2016. Cash and cash equivalents plus
short-term and long-term investments were approximately
$90 million for a sequential increase
of roughly $9 million.
These preliminary, unaudited financial results are based on
management's initial review of operations for the quarter ended
December 31, 2016, and remain subject
to change based on management's ongoing review of the fourth
quarter results.
"In 2016, we were relentlessly focused on moving from insight to
execution and operational efficiency. Our discipline is delivering
clear results," said Barry Mainz,
President and CEO, MobileIron. "Our market is characterized by the
rapid evolution of technologies and customer needs and our results
demonstrate our ability to stay ahead of these changes. I'll
provide more color and details on our regularly scheduled quarterly
earnings conference call."
While a reconciliation of non-GAAP guidance measures to
corresponding GAAP measures is not available on a forward-looking
basis, MobileIron will provide a reconciliation of GAAP to non-GAAP
financial measures in its quarterly earnings release for Q4.
Greig Patton, Senior Vice
President of Worldwide Sales, will be leaving MobileIron effective
today. Barry Mainz, President and
CEO, will serve as head of sales and will continue to be actively
engaged with the company's customers and sales process.
Fourth Quarter 2016 Earnings Announcement
MobileIron will report final results for the third quarter of
fiscal year 2016 on February 7, 2017,
after the close of the market and host a conference call and live
webcast at 1:30 p.m. Pacific Standard
Time (4:30 p.m. EST) to
discuss the company's financial results and business highlights.
Interested parties may access the call by dialing 1-855-327-6837 in
the U.S. or 1-631-891-4304 from international locations. The live
webcast will be available on the MobileIron Investor Relations
website at http://investors.mobileiron.com/. A replay will be
available through the same link.
About MobileIron
MobileIron provides the foundation for companies around the
world to transform into Mobile First organizations. For more
information, please visit www.mobileiron.com.
Safe Harbor Statement
This press release contains forward-looking statements that
involve risks and uncertainties, including, but not limited to,
statements regarding MobileIron's revenue, operating expenses, cost
structure, GAAP and non-GAAP financial metrics, projected financial
results and trends in MobileIron's business. There are a
significant number of factors that could cause actual results to
differ materially from statements made in this press release,
including, but not limited to, our limited operating history,
quarterly fluctuations in our operating results, our need to
develop new solutions and enhancements to compete in rapidly
evolving markets, product defects, customer adoption, competitive
pressures, billings type mix shift, our ability to scale, our
ability to recruit and retain key personnel, and the quality of our
support services.
Additional information on potential factors that could affect
MobileIron's financial results is included in our SEC filings,
including our reports on Forms 10K, 10Q and 8-K and other filings
that we make with the SEC from time to time. MobileIron does not
assume any obligation to update the forward-looking statements
provided to reflect events that occur or circumstances that exist
after the date on which they were made.
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SOURCE MobileIron