EmailRiverbed Technology (RVBD $32.18 -9.22) reported second quarter
earnings of $0.21 per share, in-line with the Capital IQ Consensus Estimate
consensus of $0.21.
Revenues rose 34.9% year/year to $170.3 million versus the $172.7 million
consensus.
The company said, "Overall it was a solid second quarter, with sales in the U.S.
increasing 50% over the prior year... 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."
Separately, Riverbed announced today the acquisition of two companies, Zeus Technology and Aptimize.
