Riverbed 1Q08 Preliminary Results
Revenues expected to be in the range of $72 million to $73 million
This is a Press Release edited by StorageNewsletter.com on April 4, 2008 at 2:57 pmRiverbed Technology, Inc. announced
preliminary results for its first fiscal quarter ended March 31, 2008.
First quarter revenues are expected to be in the range of $72
million to $73 million, compared with revenues of $42.8 million in the
first quarter of 2007. GAAP net income is expected to be approximately
breakeven. Non-GAAP net income, which excludes the impact of
stock-based compensation expenses and related payroll taxes, is
expected to be in the range of $0.08 to $0.10 per share.
"Although international sales remained solid and demand remained
broad-based, revenue results were below our expectations," said Jerry
Kennelly, Riverbed president and chief executive officer.
"Macro-economic trends caused a lengthening sales cycle, primarily for
domestic enterprise customers. Our pipeline remains robust, and we’re
targeting a return to sequential revenue growth in the second quarter.
We also expect to report solid non-GAAP profitability and positive
cash flow generation in the first quarter."
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