Shares of Box Inc. fell more than 13% after-hours after the company reported weaker-than-expected fourth-quarter earnings and predicted that its operating loss as a percentage of revenue would shrink in the current fiscal year. The cloud storage company reported a net operating loss of $45.8 million, or $2.64 a share, compared with a loss of $40.2 million, or $3.46 a share, in the year-earlier period. Excluding one-time costs, Box said adjusted loss per share was $1.65, compared with $2.85 in the fiscal 2014 period, and below the $1.99 analysts had been expecting, according to FactSet. Revenue was up 61% to $62.6 million, above the consensus view of $58 million. The company estimated revenue for the first quarter between $63 million and $64 million, above the Wall Street estimate of $61.9 million. However, it projected that non-GAAP loss as a percentage of revenue falls to a range of 56% to 58%, from 73% in the fourth quarter. Box is calling for fiscal 2016 revenue between $281 million and $285 million, compared with the consensus estimate of $277 million, but sees adjusted loss per share as a percentage of revenue falling to 50% to 52% from 77% in fiscal 2015.
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