Riverbed Technology Reports Record Fourth Quarter And Full Year 2011 Revenue And Profits
Riverbed Technology (NASDAQ: RVBD), the IT performance company, today reported financial results for its fourth quarter (Q4’11) and fiscal year ended December 31, 2011.
Total GAAP revenue for Q4’11 was $203 million, an increase of 7% from $190 million reported in the third quarter of fiscal year 2011 (Q3’11) and an increase of 23% from $165 million reported in the fourth quarter of fiscal year 2010 (Q4’10). For fiscal year 2011, GAAP revenue was $726 million, up 32% from $552 million in fiscal year 2010. GAAP net income for Q4’11 was $20 million, or $0.12 per diluted share. This compares to GAAP net income of $19 million, or $0.12 per share, in Q3’11 and $13 million, or $0.08 per share, in Q4’10. GAAP net income for 2011 was $64 million, or $0.38 per diluted share, compared to GAAP net income of $34 million, or $0.22 per diluted share, in 2010.
Non-GAAP revenue for Q4’11 was $204 million, an increase of 7% from $191 million reported in Q3’11, and an increase of 23% from $165 million reported in Q4’10. For fiscal year 2011, non-GAAP revenue was $728 million, up 32% from $552 million in fiscal year 2010. Non-GAAP net income for Q4’11 was $41 million, or $0.25 per diluted share. This compares to non-GAAP net income for Q3’11 of $40 million, or $0.24 per diluted share, and non-GAAP net income for Q4’10 of $32 million, or $0.19 per diluted share. Non-GAAP net income for 2011 was $150 million, or $0.90 per diluted share, which compares to non-GAAP net income of $92 million, or $0.59 per diluted share in 2010.
“2011 was a year of tremendous achievement for Riverbed® and a year in which we expanded our addressable market through new innovations, strategic acquisitions and partnerships. For the full year, revenue increased 32% while our non-GAAP net income grew 62% over 2010,” said Jerry M. Kennelly, Riverbed president and CEO. “We believe we are in the strongest strategic and competitive position in our history. Adding to that, early in 2012 we will be entering what we think will be Riverbed’s most exciting and important product cycle yet.”
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