Riverbed posted GAAP revenue of $182 million for Q1 2012, compared to $164 million in the first quarter of 2011, representing 12% year-over-year growth. GAAP net income for Q1’12 was $7 million, or $0.04 per share, compared to GAAP net income of $13 million, or $0.08 per diluted share, last year.
“In a seasonally difficult quarter, we completed a major product cycle and achieved results within our guidance range,” said Jerry M. Kennelly, Riverbed president and CEO. “Looking ahead, we expect our new Steelhead, Granite, and Cascade products, along with Stingray and Whitewater, to form the basis for Riverbed’s next leg of growth as we continue to execute on our vision to deliver a complete performance platform. Our competitive position is strong, our addressable market is growing, and we are optimistic about the opportunity before us.”
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