Riverbed: Preliminary 2Q14 Results

Riverbed Technology, Inc. announced preliminary second quarter fiscal year 2014 (Q2’14) financial results, lowering previous second quarter revenue guidance.

Non-GAAP revenue for Q2’14 is now expected to be in the range of $264 million to $265 million, compared to the company’s previous guidance of $274 million to $280 million. Q2’14 non-GAAP earnings are expected to be at the low end of the company’s previous guidance of $0.26 to $0.28 per diluted share.

“Second quarter sales were below our expectations, principally in North America as we experienced longer sales cycles on some of our larger and more complex deals. We have carefully reviewed our opportunities and prospects for the remainder of the year and continue to have confidence in our ability to grow the business and deliver targeted earnings performance,” said Jerry M. Kennelly, chairman and CEO, Riverbed. “During the quarter, we continued to prudently manage expenses and focus on achieving operating leverage, as demonstrated by our solid EPS performance within our guided range.”