Monday, August 24, 2009

Blue Coat's Revenue Rises 13% YOY to $116 Million

Blue Coat Systems reported net revenue of $116 million for its first fiscal quarter ended July 31, 2009, an increase of 13% compared with net revenue of $103 million in the first quarter of fiscal 2009, and an increase of 2% compared with net revenue of $114 million in the fourth quarter of fiscal 2009.

On a GAAP basis, the company reported net income of $4 million, or $0.09 per diluted share, in the first quarter of fiscal 2010, compared with net loss of $6 million, or $(0.15) per share, in the first quarter of fiscal 2009, and net loss of $3 million, or $(0.09) per share, in the fourth quarter of fiscal 2009.

"Blue Coat delivered solid quarterly results in a challenging economic environment," said Brian NeSmith, president and chief executive officer, Blue Coat Systems. "In the first quarter, our revenue and non-GAAP EPS performance met our expectations, and we experienced good cash generation. Importantly, we improved non-GAAP operating profitability, as driving better leverage in our business model continues to be a strategic initiative for Blue Coat in 2010."http://www.bluecoat.com

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