Monday, April 29, 2013

Riverbed Posts Q1 Revenue of $246 Million, WAN Optimization Grows 6%

Riverbed reported Q1 revenue of $246 million, compared to $182 million in the first quarter of 2012, representing 35% year-over-year growth.  This includes $52 million contributed by OPNET, which Riverbed recently acquired. GAAP net loss for Q1'13 was $8.1 million, or $0.05 per diluted share, compared to GAAP net income of $6.9 million, or $0.04 per diluted share, in Q1’12.

”Non-GAAP revenue grew thirty-eight percent over the prior year and ten percent without the benefit of $52 million contributed by OPNET in the quarter,” said Jerry M. Kennelly, chairman and CEO. “Despite weak government spending and general economic softness impacting results, WAN optimization revenue increased six percent year-over-year,” continued Kennelly. “Our market expanding products outside of WAN optimization and OPNET generated more than 40% year-over-year growth. Over the long-term, we believe our multi-product strategy to deliver unmatched application performance will allow us to accelerate the company’s revenue growth.”