This excerpt taken from the RVBD 8-K filed Oct 22, 2009.
Record Third Quarter 2009 Financial Results as Revenue Exceeds $100 Million
SAN FRANCISCO, CA October 22, 2009 Riverbed Technology (NASDAQ: RVBD), the IT infrastructure performance company for networks, applications and storage, today reported financial results for its third quarter ended September 30, 2009 (Q309).
Total GAAP revenue for Q309 was $102.0 million, an increase of 12% from $91.0 million reported in the second quarter of fiscal year 2009 (Q209) and an increase of 18% from $86.5 million of revenue reported in the third quarter of fiscal year 2008 (Q308). GAAP net income for Q309 was $5.5 million, or $0.08 per share. This compares to a GAAP net loss in Q209 of $290,000, or $0.00 per share, and a GAAP net loss of $12.4 million, or $0.17 per share, in Q308.
Non-GAAP revenue for Q309 was $102.6 million, an increase of 12% from $91.6 million of non-GAAP revenue reported in Q209 and an increase of 18% from $86.5 million of revenue reported in Q308. Non-GAAP net income for Q309 was $14.5 million, or $0.19 per diluted share. This compares to non-GAAP net income for Q209 of $10.3 million, or $0.14 cents per diluted share, and non-GAAP net income for Q308 of $11.0 million, or $0.15 per share.
We are pleased with our third quarter financial results, said Jerry M. Kennelly, Riverbed® President and CEO. We were able to generate record revenue and strong sequential and year-over-year growth against the backdrop of a still challenging global economy. As a critical enabler of fundamental business initiatives including virtualization, cloud computing and reducing data infrastructure costs, WAN optimization continues to be a top IT priority.
Q309 Financial Highlights
Q309 Business Highlights
Riverbed will host a conference call today, October 22, 2009, at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time) to discuss its third quarter fiscal year 2009 results and outlook for the fourth 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.