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
Uber has been reportedly tracking user's phones, even after deleting the app. However, the company now assured that it would not continue with such tracking anymore. Qatar Airways will launch long-haul flights to twelve new destinations in 2018, including direct flights to Wales in the UK and San Francisco in the U.S. Qatar Airways plans to start direct flights to San Francisco in early 2018 as part of its growth strategy. The move comes even as the carrier's Dubai-based rival Emirates Airlines said last week that it will cut flights to five cities in the U.S. Ahead of the April 28 launch of Mario Kart 8 for the Nintendo Switch game console, Target Corp. is transforming 650 plus stores across the country into Mario Kart courses. The transformation will begin at the front of the stores itself, with a checkered starting line at the entrance of the stores.
comments powered by Disqus
Follow RTT