Federal Aviation Administration

Splunk's revenue rose 83% to $121 million in the fiscal year that ended Jan. 31, and it reported a net loss of $11 million, compared with a loss of $3.8 million a year previously. The company has never been profitable.

Infoblox, which wants to raise $106 million on the New York Stock Exchange pursuant to this agreement the symbol BLOX, combines hardware and software in appliances that it sells to automate businesses' computer network functions, just as network discovery and device configuration. Its appliances have been sold to more than 5,400 businesses, including Adobe Systems Inc., Barclays PLC, Caterpillar Inc., the Federal Aviation Administration and IBM Corp.

When businesses automate network control, they stop using manual processes for routine network tasks and are able to create what Infoblox calls "dynamic networks" that allow data centers to perform virtualization, cloud computing, software-as-a-service and high-speed networking that support multiple business operations. Automating network control becomes more important as networks become bigger and more complicated because of the growth in the number of devices and software applications that need to connect to the network.

Infoblox, which was founded in 1999, says it believes that the market for automated network control will grow as more businesses replace their legacy network controls. For the six months that ended Jan. 31, net revenue increased 31% to $80.7 million, and it reported a net loss of $2.8 million, compared with a loss of $132,000 in the same period a year previously. The company has a history of losses, though it was profitable in fiscal 2010.

Third software firm

A third software firm, Proofpoint Inc., could as well be worth watching. The company, which is seeking to raise $74 million on the Nasdaq as PFPT, offers security software for large and midsize businesses to prevent the theft of sensitive data through attacks and phishing messages, to archive information as so then as to securely share information with clients and business partners. Its products are used by about 2,400 clients, including 26 of the Fortune 100. Its top-line growth hasn't been quite as swift as Splunk or Infoblox; in 2011, revenue rose 26% to $82 million, and it reported a net loss of $20 million, down slightly from a loss of $21 million in 2010.

Since the third quarter of 2008, Midstates has drilled 57 wells, 93% of which are in commercial production. The company's average daily production has increased while the period by a compound annual growth rate of 96%, and it aims to drill as many as 67 wells this year. In 2011, Midstates' total revenue more than tripled to $214 million, and the company swung to a profit of $17 million, from a loss of $16 million in 2010.