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
The International Monetary Fund said strong mutual policy action is needed to lift growth, as transition in China and lower commodity prices pose downside risks to global economic outlook. "Risks are tilted to the downside, and a simultaneous realization of some of these risks would imply a much weaker outlook," the lender said in a note prepared ahead of the G-20 finance ministers meeting. Following the sell-off seen in the previous session, stocks showed a strong move back to the upside during trading on Wednesday. The markets benefited from a positive reaction to the latest batch of economic news. Frontier Airlines has crashed its own website after offering $1 fares from select U.S. markets.
comments powered by Disqus
Follow RTT