Monday, January 19, 2009

Riverbed to Exceed Previous Guidance for Q4

Riverbed Technology announced preliminary financial results saying it now expects fourth quarter fiscal 2008 revenues of approximately $91 to $92 million, representing a Riverbed record for quarterly revenue, and approximately 20% growth over the same period one year ago. Fourth quarter GAAP EPS is expected to be in the range of $0.29 to $0.33 per diluted share. GAAP EPS estimates benefit from the expected reduction of the valuation allowance on Riverbed's deferred tax assets.

These preliminary fourth quarter revenue and non-GAAP EPS results exceed the guidance the company provided on October 23, 2008. At that time, the company estimated revenue between $87 and $90 million and non-GAAP earnings between $0.15 and $0.17 per share.

"We are pleased with our preliminary fourth quarter financial results," said Jerry M. Kennelly, Riverbed president and CEO. "We achieved full year 2008 revenue growth of approximately 40% against the backdrop of a challenging global economy."

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