CommVault Systems Earnings: Here’s Why the Stock is Rising Now
CommVault Systems, Inc. (NASDAQ:CVLT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 7.50%.
CommVault Systems, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 41.38% to $0.41 in the quarter versus EPS of $0.29 in the year-earlier quarter.
Revenue: Rose 21.31% to $138.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CommVault Systems, Inc. reported adjusted EPS income of $0.41 per share. By that measure, the company beat the mean analyst estimate of $0.34. It beat the average revenue estimate of $133.41 million.
Quoting Management: N. Robert Hammer, CommVault’s chairman, president and CEO stated, “Our excellent results in the fourth quarter were highlighted by record revenues, non-GAAP EBIT and operating cash flows. Our 23% growth in software revenues in the fourth quarter compared to the prior year was driven by another quarter of record enterprise software deals (transactions greater than $100,000) and strong demand both domestically and internationally. Our fourth quarter results concluded a strong fiscal 2013 where we achieved substantial improvements in all aspect of our business by delivering 25% software revenue growth and a 53% improvement in non-GAAP EBIT for the full fiscal year.”
Key Stats (on next page)…