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This excerpt taken from the RVBD 8-K filed Jul 23, 2009. Second Quarter 2009 Financial Results
SAN FRANCISCO, CA – July 23, 2009 – Riverbed Technology (NASDAQ: RVBD), the IT infrastructure performance company for networks, applications and storage, today reported financial results for its second quarter ended June 30, 2009 (Q2’09). Total GAAP revenue for Q2’09 was $91.0 million, an increase of 12% from $81.6 million of GAAP revenue reported in the second quarter of fiscal year 2008 (Q2’08). The GAAP net loss for Q2’09 was $290,000, or $0.00 per diluted share. This compares to a GAAP net loss of $869,000, or $0.01 per diluted share, in Q2’08. Non-GAAP revenue for Q2’09 was $91.6 million, an increase of 12% from $81.6 million of revenue reported in Q2’08. Non-GAAP net income for Q2’09 was $10.3 million, or $0.14 per diluted share, as compared to non-GAAP net income for Q2’08 of $9.9 million, or $0.13 per diluted share. “ Riverbed has continued to deliver revenue growth in a persistently challenging global economic environment, and the second quarter marks our 14th consecutive quarter of year-over-year top line expansion,” said Jerry M. Kennelly, Riverbed® president and CEO. “We experienced another strong quarter of new customer additions, ending the second quarter with more than 6,500 customers. As we look forward, we believe that Riverbed is well positioned to capture the full opportunity of the WAN optimization market. Our competitive position remains strong, our pipeline is healthy, and we are targeting revenue and profit growth in the third quarter.” Q2’09 Financial Highlights
Q2’09 Business Highlights
Conference Call Riverbed will host a conference call today, July 23, 2009, at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time) to discuss its second quarter fiscal year 2009 results and outlook for the third quarter of 2009. The call will be broadcast live over the Internet at www.riverbed.com/investors. A replay of the conference call will also be available via webcast at www.riverbed.com/investors for 12 months. This excerpt taken from the RVBD 8-K filed Apr 23, 2009. First Quarter 2009 Financial Results
SAN FRANCISCO, CA – April 23, 2009 – Riverbed Technology (NASDAQ: RVBD), the IT infrastructure performance company for networks, applications and storage, today reported financial results for its first quarter ended March 31, 2009 (Q1’09). Total GAAP revenue for Q1’09 was $88.2 million, an increase of 21% from $73.0 million of GAAP revenue reported in the first quarter of fiscal year 2008 (Q1’08). GAAP net income for Q1’09 was $974,000, or $0.01 per diluted share. This compares to GAAP net income of $638,000, or $0.01 per diluted share, in Q1’08. Non-GAAP revenue for Q1’09 was $88.5 million, an increase of 21% from $73.0 million of revenue reported in Q1’08. Non-GAAP net income for Q1’09 was $9.2 million, or $0.13 per diluted share, as compared to non-GAAP net income for Q1’08 of $7.9 million, or $0.11 per diluted share. “We are pleased with the strong results we are reporting for the first quarter,” said Jerry M. Kennelly, Riverbed® president and CEO. “We executed well, achieving 21 percent year-over-year revenue growth and a 33 percent increase in non-GAAP operating profit. Riverbed’s core value proposition of delivering increased efficiency, as well as the strong return on investment and short payback associated with the deployment of our products, is extremely compelling, even more so in a challenging economic environment. Our ability to deliver that kind of value is why companies choose Riverbed.” Q1’09 Financial Highlights
Q1’09 Business Highlights
Conference Call Riverbed will host a conference call today, April 23, 2009, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its first quarter fiscal year 2009 results and outlook for the second quarter of 2009. The call will be broadcast live over the Internet at www.riverbed.com/investors. A replay of the conference call will also be available via webcast at www.riverbed.com/investors for 12 months. This excerpt taken from the RVBD 8-K filed Feb 3, 2009. Fourth Quarter and Fiscal Year 2008 Financial Results
SAN FRANCISCO, CA – February 3, 2009 – Riverbed Technology (NASDAQ: RVBD), the IT infrastructure performance company for networks, applications and storage, today reported financial results for its fourth quarter (Q4’08) and fiscal year ended December 31, 2008 (FY’08). Revenues for Q4’08 were $92.2 million. Revenues for Q4’08 increased 21% from $76.3 million reported in the fourth quarter of fiscal year 2007 (Q4’07) and increased 7% from $86.5 million reported in the third quarter of fiscal year 2008 (Q3’08). Revenues for FY’08 were $333.3 million, a 41% increase from $236.4 million of revenues in fiscal year 2007 (FY’07). Reporting on a GAAP basis, net income for Q4’08 was $23.3 million, or $0.33 per diluted share. This compares to a GAAP net loss of $12.4 million in Q3’08, or $0.17 loss per share, and GAAP net income of $4.8 million, or $0.07 per diluted share, in Q4’07. Q4’08 net income was positively impacted by the release of $28.7 million related to the company’s deferred tax asset valuation allowance which resulted in a net $16.7 million tax benefit in the quarter. GAAP net income for FY’08 was $10.6 million, or $0.14 per diluted share, compared to GAAP net income of $14.8 million, or $0.20 per diluted share, in FY’07. Non-GAAP net income for Q4’08 was $13.6 million, or $0.19 per diluted share, as compared to non-GAAP net income for Q3’08 of $11.0 million, or $0.15 per diluted share, and non-GAAP net income for Q4’07 of $14.6 million, or $0.20 per diluted share. Non-GAAP net income for FY’08 was $42.5 million, or $0.57 per diluted share, which compares to non-GAAP net income of $47.4 million, or $0.65 per diluted share, in FY’07. Non-GAAP net income excludes the impact of stock-based compensation, stock-based payroll expenses and related income tax effects. Q4’08 and FY’08 non-GAAP net income also excludes the reduction in the valuation allowance related to deferred tax assets. Q3’08 and FY’08 non-GAAP net income also excludes the one-time charge for the legal settlement with Quantum. A reconciliation between GAAP and non-GAAP information is contained in the tables below. “We are pleased with our fourth quarter and fiscal year financial results,” said Jerry M. Kennelly, Riverbed® president and CEO. “We executed well, achieving full year revenue growth of 41% in a challenging economy. Customers continue to make Riverbed a spending priority because our platform – deployed by more than 5,500 customers – optimizes performance while cutting costs from the IT infrastructure. We believe the low total cost of ownership and strong return on investment make WAN optimization a high priority in any spending environment.”
Riverbed’s balance sheet was also strong exiting the fourth quarter. Deferred revenue, principally from service maintenance contracts, was $58.2 million at year end. Excluding the effect of the $11.0 million settlement payment to Quantum, non-GAAP cash flow from operations was $20.0 million in the fourth quarter and $82.4 million for the year. During fiscal 2008, the company repurchased $50.0 million of Riverbed common stock and ended the year with $267.8 million in cash and marketable securities and no debt. 2008 Highlights
Conference Call Riverbed will host a conference call today, February 3, 2009, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss its fourth quarter and fiscal year 2008 results and outlook for the first quarter of 2009. The call will be broadcast live over the Internet at www.riverbed.com/investors. A replay of the conference call will also be available via webcast at www.riverbed.com/investors for 12 months.
This excerpt taken from the RVBD 8-K filed Feb 7, 2007. 2006 Financial Results
San Francisco, CA, February 7, 2007 – Riverbed Technology, Inc. (Nasdaq: RVBD), the performance leader in wide-area data services (WDS), today released financial results for the fourth quarter and full year ended December 31, 2006. Revenues for the fourth quarter of 2006 were $33.8 million, which represents a sequential increase of 37% from the immediately preceding quarter and a year-over-year increase of 219% from the fourth quarter of last year. The net loss on a GAAP basis for the fourth quarter of 2006 was $2.4 million, or $0.04 per share, compared to a net loss of $3.1 million, or $0.16 per share, in the third quarter of 2006 and a net loss of $4.7 million, or $0.43 per share, in the fourth quarter of 2005. Riverbed’s fourth quarter of 2006 GAAP results included $4.8 million of non-cash stock-based compensation expenses. Excluding the impact of stock-based compensation in all periods, assuming preferred shares were converted as of the later of their issuance or the beginning of the respective periods, and including dilutive shares in the fourth quarter of 2006, the non-GAAP net income for the fourth quarter of 2006 was $2.4 million, or $0.03 per share, compared to a non-GAAP net loss of $1.0 million, or $0.02 per share, in the third quarter of 2006 and a non-GAAP net loss of $4.2 million, or $0.09 per share, in the fourth quarter of 2005. Revenues for the year ended December 31, 2006 were $90.2 million, a 293% increase from $22.9 million in the prior year. The GAAP net loss for the full year 2006 was $15.8 million, or $0.59 per share, which compares with a GAAP net loss of $17.4 million, or $1.85 per share, in 2005. “Our early and rapid success in the WDS market is testament to our innovative technology, strong competitive position and the business-critical need for wide-area data solutions,” noted Jerry Kennelly, Riverbed® president and chief executive officer. “As market acceptance and understanding of the capabilities of WDS grows, the Global 2000 are embracing our solutions to overcome the competing demands of globalization and IT centralization.” “The fourth quarter of 2006 marked the first quarter in which Riverbed was profitable on a non-GAAP basis, demonstrating the operating leverage in our model,” said Randy Gottfried, Riverbed chief financial officer. | EXCERPTS ON THIS PAGE:
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