Palo Alto Networks Inc. (NYSE: PANW) reported fiscal second quarter 2014 adjusted diluted earnings per share (EPS) of $0.19 on revenue of $217.7 million. In the same period a year ago, the network security company reported EPS of $0.10 on revenue of $141.07 million. First-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.17 and $204 million in revenue.

On a GAAP basis, the company posted a per share net loss of $0.53 compared with a loss of $0.55 in the same quarter a year ago. Adjusted earnings excluded the effect of share-based compensation and payroll tax expenses totaling $60.5 million in the quarter ($0.73 per share), compared with similar charge of $23.36 million in the year ago quarter.

The company’s chairman/CEO said:

We delivered very strong second quarter results across all metrics, driven by continued high customer demand for our next-generation enterprise security platform that not only detects malicious activity, but also provides integrated and automated prevention capabilities. Given the increasing rate and severity of today’s highly sophisticated cyber attacks, enterprises worldwide are turning to us to help them solve their most complex security challenges. Our highly differentiated approach to enterprise security has resulted in growth that outpaces the security market as we continue to capture significant market share.

The company forecast third fiscal quarter revenue in a range of $219 to $223 million, up 45% to 48% compared with the same period a year ago. Diluted, adjusted EPS is pegged at a range of $0.19 to $0.20 based on 87 to 89 million shares outstanding. Consensus estimates for the third fiscal quarter call for EPS of $0.19 on revenues of $214.17 million. For the full fiscal year, EPS is expected to come in at $0.74 on revenues of $848.66 million.

The networking company has had some ups and downs since coming public in July 2012, but since mid-March of last year, the trend has been solidly up and to the left. On March 3rd a year ago the stock closed at $77.12; shares closed at $145.98 on Monday afternoon.

Investors appear to have been expecting more, with shares trading down about 0.5% at $145.25 in the after-hours session. The stock posted a new 52-week high today of $146.40, and the 52-week low is $57.47. Thomson Reuters had a consensus analyst price target of around $141.40 before today’s results were announced.

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