This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CommVault Systems Management Discusses Q1 2013 Results - Earnings Call Transcript

Let me briefly summarize our financial results. For the quarter, total revenues were $111.3 million, up 22% year-over-year and down 2% sequentially. Software revenue was $52.2 million and grew 24% year-over-year and was down 8% sequentially.

License revenue growth in Q1 was driven primarily by our continued success in penetrating large enterprise accounts globally. We also had excellent results from our services and support organizations. Services revenue was $57 million and grew 19% year-over-year and 3% sequentially. For the quarter, non-GAAP operating income, or EBIT, was a record $22.6 million, up 49% year-over-year. Non-GAAP EBIT margins were 20.3%. Non-GAAP diluted earnings per share for the quarter were $0.30.

Please note that given the economic uncertainty, we prudently controlled our plan spending during the quarter, which contributed to our overachieving our forecast at EBIT margin goal. However, we will continue to make the proper investments in order to achieve our future revenue and earnings growth objectives.

Let me spend a minute speaking about the macro environment. At the present time, we continue to see good underlying demand for our products across all geographies, vertical market segments and distribution channels. We are not naive about the current economic climate and are well aware of the uncertainty of future demand. However, with the exception of a few minor issues, we have not yet seen any material slowdown in the demand of buying patterns for our solutions. Please note, our quarter started well and ended well. We continue to significantly outpace the growth of the market and pick up market share.

Our overall funnel and big deal pipeline growth indicate healthy demand for our products across most geographies. The competitive strength of our technology services and support in combination with our sales force and key distribution partners have thus far enabled us to navigate well through the current economic slowdown.

3 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%
YHOO $36.01 -1.42%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs