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Riverbed Technology to review strategic alternatives, lowers Q3 guidance

Oct. 09, 2014 8:48 AM ETRiverbed Technology, Inc. (RVBD) StockBy: Carl Surran, SA News Editor1 Comment
  • Riverbed Technology (NASDAQ:RVBD) +3.2% premarket after saying it will review strategic and financial alternatives to enhance shareholder value, and that it has initiated a restructuring plan with the aim of reducing annual costs by $20M-$25M and improving annual operating margins by 1%-2%.
  • RVBD also issues downside guidance for Q3, lowering EPS to $0.30-$0.31 from prior $0.30-$0.32 vs. $0.31 analyst consensus estimate, and lowering Q3 revenues to $276M-$277M from $285M-$291M vs. $286M consensus, primarily reflecting lower than expected growth in its WAN Optimization and virtual ADC businesses.

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