CommVault Announces First Quarter Fiscal 2013 Financial Results

Total Revenue of $111.3 million, up 22% Year-Over-Year

(PRNewswire) —

First Quarter Fiscal 2013 Highlights Include:



First Quarter

GAAP Results:



Revenues


$111.3 million

Income from Operations (EBIT)


$16.4 million

EBIT Margin


14.8%

Diluted Earnings Per Share


$0.21




Non-GAAP Results:



Income from Operations (EBIT)


$22.6 million

EBIT Margin


20.3%

Diluted Earnings Per Share


$0.30




CommVault (NASDAQ: CVLT) today announced its financial results for the first quarter ended June 30, 2012. 

N. Robert Hammer, CommVault's chairman, president and CEO stated, "We began fiscal year 2013 with a solid first quarter which was highlighted by year-over-year software revenue growth of 24% and Non-GAAP operating income growth of 49%.  Our year-over-year software revenue growth of 24% was driven by continued demand for our Simpana 9 data and information management software platform across all geographies and strong year-over-year growth in enterprise software deals (transactions greater than $100,000).  During the first quarter, we continued to make significant investments to position the company for longer term growth while delivering improved profitability."

Total revenues for the first quarter of fiscal 2013 were $111.3 million, an increase of 22% over the first quarter of fiscal 2012 and a decrease of 2% over the prior quarter.  Software revenue in the first quarter of fiscal 2013 was $54.2 million, an increase of 24% year-over-year and a decrease of 8% sequentially.  Services revenue in the first quarter of fiscal 2013 was $57.0 million, increases of 19% year-over-year and 3% sequentially.

Income from operations (EBIT) was $16.4 million for the first quarter, a 64% increase from $10.0 million in the same period of the prior year.  Non-GAAP income from operations (EBIT) increased 49% to $22.6 million in the first quarter of fiscal 2013 compared to $15.2 million in the first quarter of the prior year.  On a sequential basis, Non-GAAP income from operations (EBIT) increased 7% in the first quarter of fiscal 2013.

For the first quarter of fiscal 2013, CommVault reported net income of $10.1 million, an increase of $3.1 million compared to the same period of the prior year.  Non-GAAP net income for the quarter increased 47% to $14.4 million, or $0.30 per diluted share, from $9.8 million, or $0.21 per diluted share, in the same period of the prior year. 

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