Riverbed has $86.5m revenue for Q3-08
27 Oct 2008
Wide-area data services vendor Riverbed has announced that its revenue for the third quarter of the financial year stands at $86.5 million (£55 million), an increase of 36.7 per cent from the same time last year.
The revenue record also came with 500 new customers who signed up to the vendor, while more than $26 million was generated in operating cash flow, the vendor claims.
"Despite weakness in the global economy, we generated record revenues. Our outperformance in the third quarter was driven by strength in the government vertical, continued deployment within our customer base and new customer purchases," comments Jerry Kennelly, chairman, president and chief executive officer of Riverbed.
Moreover, there is a low cost to enterprises in deploying Riverbed's Steelhead appliances, which have the ability to improve application performance, worker productivity and IT efficiency, Mr Kennelly continues.
The vendor previously announced that its Steelhead appliances had been deployed by Leica Geosystems to improve the team collaboration between staff in more than 20 offices worldwide.
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