Blue Coat posts 13% increase in revenues
WAN optimization specialist Blue Coat posted net revenues of $116 million net for the quarter to the end of July
WAN optimization specialist Blue Coat posted net revenues of $116 million net for the quarter to the end of July, a rise of 13% on the same quarter one year ago, and a 2% rise on the previous quarter.
Net income reached $4 million, up from a loss of $6 million from the same quarter a year ago.
Brian NeSmith, president and chief executive officer of Blue Coat Systems said that the results were due to improved operational efficiencies and increasing market share in WAN optimization.
“Blue Coat delivered solid quarterly results in a challenging economic environment. In the first quarter, our revenue and non-GAAP EPS performance met our expectations, and we experienced good cash generation. Importantly, we improved non-GAAP operating profitability, as driving better leverage in our business model continues to be a strategic initiative for Blue Coat in 2010,” NeSmtih said.
“Blue Coat continues to gain share in the WAN optimization market with its Application Delivery Network value proposition, which provides customers with unmatched visibility, acceleration and security. Going forward, we intend to improve operating efficiencies across all areas of the company, while also funding critically important initiatives to strengthen the competitiveness of our solutions and extend our leadership role in the market,” he added.
The company is predicting revenues of $116 million to $121 million for the second financial quarter, to end of October.