Q1 2013 Earnings Call Transcript

Transcript Call Date 04/29/2013

Operator: Good afternoon. My name is Ginger and I will be your conference operator today. At this time, I would like to welcome everyone to the Riverbed First Quarter 2013 Financial Results Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. Thank you.

Ms. Renee Lyall, Director of Investor Relations, you may begin your conference.

Renee Lyall - IR: Thank you, Ginger. Welcome to our conference call for the first quarter of 2013. The speakers today are Jerry Kennelly, President and CEO; Ernie Maddock, Chief Financial Officer; and Eric Wolford, President of the Products Group.

Jerry will provide an overview of the business for the quarter and then Eric will talk about our markets and the opportunity as we look ahead. Ernie will review our first quarter results in greater detail and then Jerry will finish with our second quarter guidance and closing remarks.

A press release detailing our first quarter results was distributed today at approximately 1.05 pm Pacific Time over Business Wire. The press release is also available on our website at This conference call is being webcast live at and will be archived on our website for the next 12 months on the quarterly earnings and events pages.

Our discussion today will include forward-looking statements, including statements regarding our products, product roadmaps and technologies, our markets performance, revenue growth, operating synergies, strategies, repayment of outstanding debt and our financial outlook.

Forward-looking statements are only predictions and involve risks and uncertainties that may cause our actual results to differ materially from those expressed or implied by these statements. Factors that may affect our results are summarized in our quarterly release and described in detail in our SEC filings. Forward-looking statements are made as of today's date only and Riverbed disclaims any obligation to update any forward-looking statements.

Unless otherwise stated, financial information discussed on today's conference call is presented on a non-GAAP basis. Non-GAAP items are described and reconciled to GAAP results in today's press release and in a supplemental reconciliation available on the Investor Relations' portion of our website. Any future products, features or related specifications that may be referenced during today's call are for informational purposes only and are not commitments to deliver any technology or enhancements. Riverbed reserves the right to modify or cancel future product plans at any time.

I'd now like to turn the call over to Riverbed's Chairman and CEO, Jerry Kennelly.

Jerry M. Kennelly - Chairman and CEO: Thank you, Renee, and good afternoon to everyone. Before we begin, I want to welcome Ernie Maddock to the Riverbed team as our new CFO. Today is actually his first full day at the Company and he is hitting the ground running. Ernie joins Riverbed at an important time in our evolution as a company. We had a run rate to achieve more than $1 billion in revenue this year. Our transition to be a multiproduct company and even a more strategic partner to our customers is well underway. Ernie's years of experience will be of tremendous benefit to us as we move forward.

Read our Earnings Call Transcript disclaimer.
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