Riverbed rpts record fourth quarter and fiscal year 2013 results

SAN FRANCISCO, USA: Riverbed Technology, the leader in application performance infrastructure, today reported record revenue for its fourth quarter (Q4'13) and fiscal year ended December 31, 2013 (FY'13).

Total GAAP revenue for Q4'13 was $283 million, up 8 per cent compared to the third quarter of fiscal year 2013 (Q3'13) and 19 per cent compared to the fourth quarter of fiscal year 2012 (Q4'12). For FY'13, GAAP revenue was $1.0 billion, up 24 per cent compared to fiscal year ended December 31, 2012 (FY'12). GAAP net income for Q4'13 was $8 million, or $0.05 per diluted share. This compares to $4 million, or $0.02 per diluted share, in Q3'13 and $5 million, or $0.03 per diluted share, in Q4'12. GAAP net loss for FY'13 was $12 million, or ($0.08) per diluted share.

Non-GAAP revenue for Q4'13 was $285 million, an increase of 7 per cent compared to Q3'13 and an increase of 19 per cent compared to Q4'12. Non-GAAP revenue for FY'13 was $1.1 billion, an increase of 26 per cent compared to FY'12. Non-GAAP net income for Q4'13 was $51 million, or $0.31 per diluted share. This compares to $43 million, or $0.26 per diluted share, in Q3'13 and $46 million, or $0.29 per diluted share, in Q4'12. Non-GAAP net income for FY'13 was $169 million, or $1.01 per diluted share.

"Riverbed is executing well on a strategy to create sustained growth for our business, strategic value for our customers, and profitable returns for our shareholders," said Jerry M. Kennelly, chairman and CEO, Riverbed. "Our strong 2013 finish demonstrates progress across our major product lines and all geographies, and strength in enterprise sales. For the full year we are reporting more than $1 billion in revenue, an important milestone in the Company's history, and a good base from which we will drive our next leg of growth."