Riverbed Reports Revenue of $88 Million, Up 21% YoY

Riverbed Technology, which supplies WAN optimization platforms, reported total GAAP revenue for Q1'09 of $88.2 million, an increase of 21% from $73.0 million of GAAP revenue reported in the first quarter of fiscal year 2008 (Q1'08). GAAP net income for Q1'09 was $974,000, or $0.01 per diluted share. This compares to GAAP net income of $638,000, or $0.01 per diluted share, in Q1'08.


"We are pleased with the strong results we are reporting for the first quarter," said Jerry M. Kennelly, Riverbed president and CEO. "We executed well, achieving 21 percent year-over-year revenue growth and a 33 percent increase in non-GAAP operating profit."


During the quarter, Riverbed announced an OEM agreement with Microsoft to license Windows Server 2008 for integration on the Riverbed Steelhead appliance through the Riverbed Services Platform (RSP).
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