Blue Coat (BCSI) Announces Revenue Increasing Strategic Plan; Confirms Revs
Blue Coat Systems, Inc. (NASDAQ: BCSI) today announced that it is implementing a strategic plan to drive future revenue growth and increase its non-GAAP operating profitability.
This plan includes:
- Entry into an agreement to acquire S7 Software Solutions Pvt. Ltd., an IT research and development firm based in Bangalore, India.
- Blue Coat also announced a corporate-wide restructuring program that includes a net reduction in headcount of approximately 10 percent.
The combination of the S7 Software acquisition and restructuring program is intended to enable the Company to more cost effectively develop new products and pursue new routes to market.
Blue Coat also announced preliminary, unaudited net revenue results for its second quarter of fiscal 2010, ended October 31, 2009, and confirmed that net revenue for its second fiscal quarter was toward the top end of its previous guidance of net revenue in the range of $116 to $121 million.
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