Riverbed Technology (RVBD) Tops Q4 EPS by 2c

Riverbed Technology (NASDAQ: RVBD) reported Q4 EPS of $0.34, $0.02 better than the analyst estimate of $0.32. Revenue for the quarter came in at $284 million versus the consensus estimate of $287.6 million.

"Riverbed achieved revenue of $1.1 billion in 2014, supported by ongoing momentum in both our SteelCentral performance management suite and our innovative SteelFusion product, nicely complementing our market leading SteelHead family. Riverbed today offers the most complete portfolio of solutions that provide CIOs with unparalleled optimization, visibility, and control across the hybrid enterprise, helping to ensure all on-premises, cloud and SaaS applications perform as needed to drive their business forward without technical constraints,” said Jerry M. Kennelly, Chairman and CEO.

“We delivered double digit EPS growth for the calendar year, underscoring our continued focus on driving operational efficiencies. We continue to take definitive actions to enhance profitability and focus on our core competencies; in the fourth quarter, we completed our previously announced restructuring plans and closed the sale of our SteelStore cloud back-up and storage product line. Taking into account the revenue impact from the sale of SteelStore, our fourth quarter revenue performance was consistent with our original expectations, while we exceeded the top end of our EPS range due in part to a more favorable tax rate. We ended the year on solid financial footing, growing our cash and investments to $614 million and generating $72 million in free cash flow in the quarter, or 25% of Q4’14 revenue,” continued Kennelly.

In light of the pending acquisition of the Company by Thoma Bravo, the Company will not be holding an earnings conference call to discuss its financial results.

For earnings history and earnings-related data on Riverbed Technology (RVBD) click here.

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