Shares in NetScout Systems Inc. rose slightly in regular trading today after the cybersecurity company reported mixed results in its fiscal fourth quarter.

For the quarter that ended on March 31, NetScout reported adjusted earnings per share of 55 cents, up from 38 cents in the same quarter of the previous fiscal year, on revenue of $203.4 million, down 2.3% year-over-year. It was a beat and a miss, with adjusted earnings per share coming in ahead of the 52 cents expected by analysts, while revenue fell short of an expected $214.92 million.

Product revenue in the quarter came in a $89.3 million, down from $91.3 million in the same quarter of the previous fiscal year and service revenue dropped from $116.8 million to $114 million over the same period.

On an unadjusted basis, NetScout saw a loss from operations in the quarter of $27 million, which included a noncash goodwill impairment charge of $50.2 million, compared with income from operations of $1.6 million a year ago. As of the end of March, NetScout had $421.1 million in cash, cash equivalents and marketable securities and investments on hand, up from $330.1 million as of Dec. 31.

For its full fiscal year 2024, NetScout reported adjusted earnings of $2.20 per share, up from $2.18 per share in the prior fiscal year, on revenue of $829.5 million, down from $914.5 million in fiscal year 2023.

“During Q4 and for the full fiscal year 2024, NetScout achieved solid double-digit revenue growth in our cybersecurity offering area across both the enterprise and service provider customer verticals,” Anil Singhal, president and chief executive of NetScout, said in the company’s earnings release. “This strength was more than offset by the constrained customer spending environment affecting our Service Assurance offerings, primarily related to our domestic service provider customers.”

NetScout did not provide a formal first-quarter outlook, but Singhal did note that though the company is encouraged by the momentum in its cybersecurity offering, he also warned of “lingering headwinds” in its domestic service provider business. “This will likely create a top-line offset resulting in a flat to slightly down revenue scenario for fiscal year 2025,” he noted.

For its full fiscal year 2025, NetScout expects to see adjusted earnings per share of $2.10 to $2.30 on revenue of $800 million to $830 million.

Image NetScout