Riverbed Technology Sees Higher Revenue

By Ed Silverstein July 25, 2012

Riverbed Technology saw increased revenue during the second quarter and expects to experience better than-expected Q3 results.

Among the reasons for the growth in revenue is the strength of the company’s core wide area network (WAN) equipment sector, according to a report from Reuters News Agency.

During Q2, Riverbed Technology saw GAAP revenue of $198 million, an increase of nine percent contrasted to the $182 million in Q1 2012, the company said in a press release. The most recent quarter is also a 17 percent jump in revenue when compared to $170 million seen in Q2 of 2011.

GAAP net income for the most recent quarter was $18 million, an increase over the $7 million during Q1 of 2012, and an increase over the $11 million in Q2 of 2011.

“We executed well in the second quarter, driving stronger sales of our new Steelhead and Cascade platforms, demonstrating continued demand for performance-improvement technologies,” Jerry M. Kennelly, Riverbed president and CEO, said.

 “Revenue grew across all major geographies and revenue growth accelerated across our core product offerings.”

“Looking forward, we believe our expanded product offerings and partnerships will further extend our reach to new customers and market segments,” he adds.

During the most recent quarter, the company offered the Steelhead 150 appliance and Virtual Steelhead 150. They are targeted at emerging markets and organizations with relatively few employees, the company said.

In addition, the company will collaborate with VMware with Riverbed Steelhead. The collaboration will accelerate virtual machines moving among private, public and hybrid clouds.

In addition, the company was given certification from the J.D. Power and Associates Certified Technology Service & Support (CTSS) program and the Technology Service Industry Association's (TSIA) Excellence in Service Operations.

In other recent company news, Riverbed will partner with Juniper Networks in wide area network (WAN) optimization, application delivery and mobility. The partnership will provide technology to businesses that want to increase efficiency of IT infrastructures. It will also lead to improved performance of applications across mobile devices, networks and clouds, the company said.

Edited by Brooke Neuman

TechZone360 Contributor

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