logo
Share SHARE
FONT-SIZE Plus   Neg

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

Riverbed Technology Inc. (RVBD) 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%.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Alaska Air Group Inc., which completed its $2.6 billion acquisition of Virgin America last year, said that the combined company will adopt Alaska Air's name and logo. The Virgin America name will be retired, "likely sometime in 2019," the airline added. Apple Inc. has agreed to acquire Workflow, an iOS app for automating tasks, as well as its development team for an undisclosed sum. Workflow is a personal automation tool that enables the user to drag and drop combination of actions to create workflows for the iPhone, iPad and Apple Watch. After long negotiations to win over one of the largest and fastest growing smart phone markets, Apple has decided to assemble its 4-inch screen iPhone SE in India.
comments powered by Disqus
Follow RTT