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July 23, 2010

Riverbed Technology Q2 revenue up 39% to $126.2m

Operating income increased to $11m in Q2 2010

By CBR Staff Writer

IT infrastructure performance company Riverbed Technology has reported revenue of $126.2m for the second quarter of 2010, an increase of 39% compared to $91m for the second quarter of 2009. Revenue increased 12% sequentially.

The company posted an operating income of $11m for the second quarter, compared to an operating income of $2m for the same period last year.

For the quarter ended June 30, 2010, the company posted net income of $7m, or $0.09 per share, compared to a net loss of $0.3m, in the same quarter a year ago.

Jerry Kennelly, chairman and CEO of Riverbed, said: "Riverbed reported a record breaking second quarter as WAN optimisation continues to be a strategic priority investment for businesses and governments around the world.

"We executed well, achieving 39% year-over-year revenue growth with product sales increasing more than 40% over the prior year, marking our fourth consecutive quarter of product revenue acceleration. We also achieved significant operating leverage with our non-GAAP operating profit doubling over the prior year."

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