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Riverbed Technology Q4 Profit Declines On Higher Acquisition Costs; Stock Down

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2/7/2013 5:11 PM ET

Riverbed Technology Inc. (RVBD: Quote) reported that its fourth-quarter net income declined to $4.78 million or $0.03 per share, from $20.15 million or $0.12 per share in the same quarter last year. Acquisition-related costs for the quarter rose to $13.23 million from $1.09 million in the year ago quarter.

Non-GAAP net income for the quarter was $46.46 million or $0.29 per share, compared to $41.11 million or $0.25 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter rose to $237.38 million from $202.84 million in the prior year quarter. Thirty one analysts had consensus revenue estimate of $234.77million for the quarter.

In December 2012, Riverbed Technology announced that it closed its acquisition of OPNET Technologies Inc.

In October 2012, Riverbed Technology had entered into a definitive agreement to acquire OPNET Technologies, a provider of solutions for application and network performance management, for $43 per share in cash and stock.

RVBD closed Thursday's regular trading at $20.10, down $0.21 or 1.03%. In the after-hours, the stock is further down $1.55 or 7.71%.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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