Monday, February 4, 2008

Riverbed Reports Q4 Revenue of $76.3 Million

Riverbed Technology, which specializes in wide-area data services (WDS) solutions reported Q4 2007 revenues of $76.3 million, an increase of 126% from the fourth quarter of 2006 and a 21% increase over the third quarter of 2007. GAAP net income was $4.8 million, or $0.07 per share, in the fourth quarter of 2007, compared to a net loss of $2.4 million, or a loss of $0.04 per share, in the fourth quarter of 2006. Riverbed's fourth quarter of 2007 GAAP results included $9.8 million of stock-based compensation expenses and related payroll taxes.

Revenues for the year ended December 31, 2007 were $236.4 million, a 162% increase from $90.2 million of revenues in the prior year. Riverbed posted its first full year of profitability in 2007. GAAP net income for 2007 was $14.8 million, or $0.20 per share, compared to a GAAP net loss of $15.8 million, or $0.59 per share, in 2006.

"Over the past year, we have continued the rapid expansion of our business, growing revenues by 162%, adding over 1,800 customers and building a business that generated over 18% non-GAAP operating margins in 2007 compared to losses in 2006," noted Jerry M. Kennelly, Riverbed president and chief executive officer. "

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