Our discussion today will include forward-looking statements, including statements regarding our products, markets, performance, strategies and financial outlook. Forward-looking statements are only predictions and involve risks and uncertainties that may cause our actual results to differ materially from those expressed or implied by these statements. Factors that affect our results are summarized in our quarterly release and described in detail in our SEC filings.Forward-looking statements are made as of today's date only and Riverbed disclaims any obligation to update any forward-looking statements. Unless otherwise stated, financial information reviewed on today's call is presented on a non-GAAP basis. Historical non-GAAP items are described and reconciled to GAAP results in today's press release and in a supplemental reconciliation available on the Investor Relations portion of our website. Any future products, feature or related specification that may be referenced during today's call are for informational purposes only and are not commitments to deliver any technology or enhancements. Riverbed reserves the right to modify or cancel future product plans at any time. I'd now like to turn the call over to Riverbed's President and CEO, Jerry Kennelly. Jerry M. Kennelly Thank you, Renee, and good afternoon, everyone. First quarter revenue of $183 million was slightly below consensus, but within the low end of our guidance range. Earnings of $0.20 per share was in line with consensus and at the high end of our guidance range. As we predicted, the combination of our product transition and a seasonally weaker quarter was challenging. We had some customers pause their purchasing decision to evaluate, which Steelhead model they wanted to deploy. And in some cases, we saw our sales cycles extended further as customers decided to evaluate Granite. Also impacting the first quarter was a mixed sales environment. We continue to feel the unavoidable growing pains associated with becoming a multiproduct company. We are working to better align our sales and marketing efforts for more immediate returns on our investments. I will talk more about this later. We are positive on our opportunity going forward and our ability to deliver above market results especially in the second half of the year. For many reasons I will turn to now.
In Q1, we brought to market what we believe is the most significant product cycle we have had since the company first introduced Steelhead more than 8 years ago. We successfully launched both the CX and the EX Steelhead appliance platforms, which includes 40 new edge appliance configurations. We also launched Granite, a cutting-edge breakthrough technology, which delivers edge virtual server infrastructure or edge VSI, and we launched the Steelhead Cloud Acceleration, our joint SaaS acceleration solution with Akamai. We also introduced new appliance models, software and virtual solutions for Cascade that extend performance monitoring in the load balance and virtualized data centers.The new CX and EX Steelhead platforms have been well received by our customers, following their introduction mid-quarter, and we expect sales of the CX and EX to continue to ramp throughout the year. Granite was also well received and is generating a lot of customer interest. We had our first sales in Q1 and the pipeline is impressive. The value proposition Granite offers is unmatched. By delivering an edge virtual server infrastructure, Granite reduces the operational burden on IT managers by allowing servers and storage remaining at remote sites to be consolidated to the data center. At the same time, it increases their control over the infrastructure, all at a lower total cost of ownership. Read the rest of this transcript for free on seekingalpha.com