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October 24, 2010

Riverbed Technology Q3 revenue up 46.1%

Operating income increased to $22.5m in Q3 2010

By CBR Staff Writer

IT infrastructure performance company Riverbed Technology has reported revenue of $149m for the third quarter of 2010, an increase of 46.1% compared to $102m for the third quarter of 2009.

The company posted an operating income of $22.5m for the third quarter, compared to an operating income of $10m for the same period last year.

For the quarter ended September 30 2010, the company posted net income of $14m, or $0.18 per share, compared to a net income of $5.5m, or $0.08 per share in the same quarter a year ago.

Riverbed chairman and CEO Jerry Kennelly said WAN optimisation continues to be a strategic spending priority for IT as organisations consolidate and virtualise their global data infrastructures.

"In the third quarter, deployment sizes continued to grow as we expanded our presence in the enterprise. We executed well, with the strongest top line growth Riverbed has reported in more than two years, and bottom line growth outpaced the top line, resulting in a 28% non-GAAP operating margin," Kennelly said.

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