Riverbed Posts Q2 Revenue of $170M, Sees Softness in EMEA

Riverbed Technology posted Q2'11 revenue of $170.3 million, up 35% compared to the second quarter of fiscal year 2010 (Q2'10). Net income (GAAP)was $11.3 million, or $0.07 per share. This compares to GAAP net income of $6.6 million, or $0.04 per diluted share, in Q2'10.


"Overall it was a solid second quarter, with sales in the U.S. increasing 50% over the prior year," said Jerry M. Kennelly, Riverbed® president and CEO.


"We experienced softness in the EMEA region, which we attribute to both the regional economy and our own execution. Looking ahead, we have confidence in our ability to improve our execution in this region with new EMEA sales leadership announced last week. Our top-line growth was led by a 38% year-over-year increase in product sales. Non-GAAP product gross margin reached an all-time high of 81.5%, and we achieved a record non-GAAP operating margin of 29.6%. Our competitive position is stronger than ever, our product portfolio is even more robust with the acquisitions announced today, and our market opportunity is growing. We expect a strong second half of 2011."http://www.riverbed.com