Blue Coat Reports Financial Results for Fourth Quarter and Year Ended April 30, 2009.Summary: Blue Coat Systems, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BCSI BCSI Building Scalable Cisco Internetworks ), the technology leader in Application Delivery Networking, today reported its financial results for its fourth quarter and fiscal year ended April 30, 2009.A Total net revenue for the fourth quarter of fiscal 2009 was $114 million, an increase of 29% compared to net revenue of $88 million in the same quarter last year, and an increase of 4% compared to net revenue of $110 million in the immediately preceding quarter. Blue Coat Reports Financial Results for Fourth Quarter and Year Ended April 30, 2009 Blue Coat Systems, Inc. (NASDAQ: BCSI), the technology leader in Application Delivery Networking, today reported its financial results for its fourth quarter and fiscal year ended April 30, 2009.A Total net revenue for the fourth quarter of fiscal 2009 was $114 million, an increase of 29% compared to net revenue of $88 million in the same quarter last year, and an increase of 4% compared to net revenue of $110 million in the immediately preceding quarter.A Excluding net revenue associated with Packeteer, net revenue for the fourth quarter of fiscal 2009 was $89 million, an increase of 1% compared to net revenue of $88 million in the same quarter last year, and an increase of 3% compared to net revenue of $86 million in the immediately preceding quarter. Net revenue for the fiscal year ended April 30, 2009 was $445 million, an increase of 46% when compared to net revenue of $305 million for the fiscal year ended April 30, 2008. Excluding net revenue associated with Packeteer, net revenue for fiscal 2009 was $356 million, an increase of 16% compared to net revenue of $305 million in fiscal 2008.A Eoe1/4EoI am pleased with our teamEoe1/4aos ability to execute in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of a difficult economic environment,Eoe1/4Y said Brian NeSmith Brian NeSmith is a technology entrepreneur and CEO of Blue Coat Systems, Inc. NeSmith graduated from the Massachusetts Institute of Technology in 1984, holding a Bachelors Degree in electrical engineering. , President and Chief Executive Officer, Blue Coat Systems.A Eoe1/4EoOur Application Delivery Network value proposition, coupled with the mission-critical nature and compelling ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). of our products, positions us well in challenging times.Eoe1/4YA A Eoe1/4EoLooking back on the year, I believe we had a strong fiscal 2009.A In a fairly short period of time, Blue Coat has evolved to be a leader in WAN optimization WAN optimization products seek to accelerate a broad range of applications accessed by distributed enterprise users via eliminating redundant transmissions, staging data in local caches, compressing and prioritizing data, and streamlining chatty protocols (e.g., CIFS).. and extended its leadership position in the secure Web gateway market.Eoe1/4YA A On a GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). basis, the Company reported net loss of $3 million, or $(0.09) per share, in the fourth quarter of fiscal 2009, compared to net income of $12 million, or $0.32 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, in the fourth quarter of fiscal 2008, and net income of $1 million, or $0.02 per diluted share, in the third quarter of fiscal 2009. For the fiscal year 2009, the Company reported net loss of $9 million, or $(0.22) per share, compared to net income of $33 million, or $0.82 per diluted share, in fiscal 2008. A The Company reported non-GAAP net income of $8 million, or $0.19 per diluted share, in the fourth quarter of fiscal 2009, compared to non-GAAP net income of $13 million, or $0.33 per diluted share, in the fourth quarter of fiscal 2008, and non-GAAP net income of $9 million, or $0.21 per diluted share, in the third quarter of fiscal 2009. For the fiscal year 2009, the Company reported non-GAAP net income of $36 million, or $0.84 per diluted share, compared to non-GAAP net income of $49 million, or $1.24 per diluted share, in fiscal 2008. Non-GAAP net income generally excludes charges related to the fair value write-up Write-Up An increase made to the book value of an asset because it is undervalued compared to market values. Notes: A write-up will increase a company's accounting book value without any expenditures. of acquired inventory sold, stock-based compensation expense, amortization of intangible assets Intangible Asset An asset that is not physical in nature. Notes: Examples are things like copyrights, patents, intellectual property, and goodwill. These are the opposite of tangible assets. , expenses for matters related to the stock option investigation, restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). expenses, and assumes a long term effective tax rate of 30% on non-GAAP pre-tax pre-tax adj → anterior al impuesto pre-tax adj → avant impôt(s) pre-tax adj → al lordo d'imposta income. A discussion of non-GAAP financial measures is provided under the section Eoe1/4EoAbout Non-GAAP Financial MeasuresEoe1/4Y later in this press release. A detailed reconciliation of the GAAP to non-GAAP financial measures is included in Table 2 of this press release. The Company ended the quarter on April 30, 2009, with cash, cash equivalents, and restricted cash of $115 million, an increase of $3 million from the prior quarter.A Cash flow provided by operations in the fourth quarter of fiscal 2009 was $5 million and $58 million for the year ended April 30, 2009. Financial Outlook For the first quarter ending July 31, 2009, the company is currently planning net revenue in the range of $114 to $119 million. On a GAAP basis, the Company expects net income of $0.03 to $0.08 per diluted share.A On a non-GAAP basis, the Company expects net income of $0.20 to $0.25 per diluted share.A 2009 Al Bawaba (www.albawaba.com) 2009 Al Bawaba (Albawaba.com) Provided by Syndigate.info an Albawaba.com company |
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