Riverbed Surges on Bullish Forecast
Riverbed Technology, Inc. (Nasdaq:RVBD),the IT performance company, today announced preliminary first quarter fiscal year 2011 (Q1'11) results, exceeding previously announced first quarter expectations.
Revenue for Q1’11 is expected to be in the range of $163 million to $164 million, compared with revenue of $112.4 million in the first quarter of 2010 (Q1’10). Q1’11 GAAP net income is expected to be between $0.07 and $0.08 per diluted share, compared to $0.01 per diluted share in Q1’10. Q1’11 non-GAAP net income is expected to be between $0.19 and $0.20 per diluted share, compared to $0.10 per diluted share in Q1’10.
Riverbed Technology sees Q1 revs of $163-164 mln vs $160.1 mln Thomson Reuters consensus, sees Non-GAAP EPS of $0.19-0.20 vs $0.18 consensus (RVBD) 30.92 -2.15
The news sparked buying in Riverbed's competitors including Aruba Networks(ARUN), advancing 3% to $29.55; Acme Packet(APKT), tacking on 2.8% to $72.51; Savvis(SVVS), gaining 2.9% to $35.53; and F5 Networks(FFIV), rising 2.6% to $96.21.
For the latest updates on the stock market, visit,
http://technicalanalysis-blog.blogspot.com/ or Subscribe for free
