“The business has been executing well and fourth quarter revenue growth was fueled by strong enterprise sales in both the U.S. and EMEA,” added Randy S. Gottfried, Riverbed Chief Financial Officer. “Despite higher disk drive costs resulting from recent Thai floods, we reported strong gross and operating margins in the fourth quarter. We believe our past investments in our core and new products will continue to yield solid revenue and profit growth in 2012.”
2011 Business Highlights
- Awarded IDG's InfoWorld 2011 Technology of the Year Award in the Best WAN Accelerator category for the sixth consecutive time.
- Received certification under the J.D. Power and Associates Certified Technology Service & Support (CTSS) program and the Technology Service Industry Association's (TSIA) Excellence in Service Operations. Riverbed is one of a select few companies to receive this distinction for global certification under both the J.D. Power and Associates CTSS and the TSIA Excellence in Service Operations program in the same year.
- Announced with Akamai the intention to develop a joint application acceleration solution for hybrid cloud networks and SAAS applications.
- Introduced Riverbed Stingray(TM), a new portfolio of asymmetric software- and virtual-based offerings, including application delivery controllers, web content optimization and Web application firewalls based on technologies acquired from Zeus Technology and Aptimize Limited.
- Launched Riverbed Optimization System (RiOS®) 7.0, expanding optimizations to include native support for HTTP video, UDP, and IPv6. Also included enhanced optimizations for virtual desktop infrastructure, Quality of Service, and integrated Cascade® Shark functionality into the Steelhead® appliance to deliver on-demand packet capture and analysis.
- Introduced Cascade 9.0, providing customers with fine-grained classification of traffic, including advanced Layer-7 awareness and a single business-level performance view of applications and services.
- Integrated the application-aware functionality of Cascade Profiler(TM) with the Cascade Shark(TM) network traffic recording appliance and Cascade Pilot(TM) network analysis software.
- Expanded the ecosystem for Riverbed Whitewater® to include more than 15 cloud storage, backup software, and critical database protection solutions.
- Extended the Riverbed solutions available through the EMC Select Program to include all Steelhead Appliance models, Steelhead Mobile, Riverbed Services Platform, Central Management Controller, Interceptor®, and all Cascade products.
Riverbed will host a conference call today, January 26, 2012, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss its fourth quarter and full year 2011 results and outlook for 2012. The call will be broadcast live over the Internet at www.riverbed.com/investors. A replay of the conference call will also be available via webcast at www.riverbed.com/investors for 12 months.Use of Non-GAAP Financial Information To supplement our financial results presented in accordance with Generally Accepted Accounting Principles (GAAP), this press release and the accompanying tables and the related earnings conference call contain certain non-GAAP financial measures, including non-GAAP support and service revenue, non-GAAP revenue, non-GAAP gross profit, non-GAAP operating profit, non-GAAP operating margin, non-GAAP net income and net income per share, non-GAAP gross margin and non-GAAP operating margin, that we believe are helpful in understanding our past financial performance and future results. For reconciliations of these non-GAAP financial measures to the most directly comparable GAAP financial measures, please see the section of the accompanying tables titled, "GAAP to Non-GAAP Reconciliations." Our non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read in conjunction with our consolidated financial statements prepared in accordance with GAAP. Our management regularly uses our supplemental non-GAAP financial measures internally to understand and manage our business and forecast future periods. Our non-GAAP financial measures include adjustments based on the following items, as well as the related income tax effects, adjustments related to our tax valuation allowance and the interim tax cost of the one-time transfer of intellectual property rights between Riverbed legal entities:
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