Monday, July 14, 2014

Riverbed Issues Q2 Warning

Riverbed Technology trimmed its financial guidance for Q2 citing longer than expected sales cycles in North America.

Riverbed now expects non-GAAP revenue for Q2’14 to be in the range of $264 million to $265 million, compared to the company’s previous guidance of $274 million to $280 million.  Q2’14 non-GAAP earnings are expected to be at the low end of the company’s previous guidance of $0.26 to $0.28 per diluted share.


“Second quarter sales were below our expectations, principally in North America as we experienced longer sales cycles on some of our larger and more complex deals.  We have carefully reviewed our opportunities and prospects for the remainder of the year and continue to have confidence in our ability to grow the business and deliver targeted earnings performance,” said Jerry M. Kennelly, chairman and CEO, Riverbed.  “During the quarter, we continued to prudently manage expenses and focus on achieving operating leverage, as demonstrated by our solid EPS performance within our guided range.”

Full results are expected on July 24, 2014.

http://www.riverbed.com/investors

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