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Riverbed(R) CEO Jerry Kennelly credits maintaining the same high-performance culture throughout the company's history as the key factor in driving its revenue growth over the five years. "When Dr. Steve McCanne and I started Riverbed back in 2002, we were steadfast in our convictions about the type of people we wanted to work with us," says Kennelly. "Our recruiting process remains as thorough today as it was back then. We started with the smartest and highest-performing people behind an innovative technology that addresses a critical challenge for enterprises. Our success with customers is a testament to the team's drive to continuously provide an industry-leading solution and support."
"Technology Fast 500(TM) recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth," said Phil Asmundson, Vice Chairman and U.S. Technology, Media and Telecommunications leader, Deloitte LLP. "We congratulate Riverbed on this accomplishment."
"With its impressive five-year growth, Riverbed has earned its position among the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America," said Mark Jensen, Managing Partner, Technology and Venture Capital Services, Deloitte & Touche LLP. "Deloitte is proud to honor Riverbed for its achievement."
In 2008, Riverbed ranked 10th in the Rising Star category in Deloitte's Technology Fast 50 program for Silicon Valley. The Rising Star award is a special designation for fast-growth companies that have been in business a minimum of three years, and is part of the Silicon Valley Technology Fast 50 program. Riverbed was ranked number ten based on its 930 percent revenue growth during a three year period.
Overall, Technology Fast 500(TM) award winners for 2009 had growth rates ranging from 212 to 146,050 percent over five years, with an average growth rate of 2,486 percent.
Technology Fast 500(TM) Selection and Qualifying Criteria
Technology Fast 500(TM) provides a ranking of the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. This ranking is compiled from nominations submitted directly to the Technology Fast 500(TM) website, and public company database research conducted by Deloitte. Technology Fast 500(TM) award winners for 2009 are selected based on percentage fiscal year revenue growth during the five year period from 2004 to 2008.
Deloitte's 2009 Technology Fast 500(TM) Media Guidance 4
In order to be eligible for Technology Fast 500(TM) recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not satisfy this requirement.
Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues.
Technology Fast 500(TM) award eligibility requirements also include base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. These revenues must have more than doubled between 2004 and 2008. Additionally, companies must be in business for a minimum of five years, and be headquartered within North America.
Forward Looking Statements
This press release contains forward-looking statements, including statements relating to the expected demand for Riverbed's products and services, statements about Riverbed's historical revenue growth that may suggest trends for our business, and statements relating to Riverbed's ability to meet the needs of distributed organizations. These forward-looking statements involve risks and uncertainties, as well as assumptions that, if they do not fully materialize or prove incorrect, could cause our results to differ materially from those expressed or implied by such forward-looking statements. The risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements include our ability to react to trends and challenges in our business and the markets in which we operate; our ability to anticipate market needs or develop new or enhanced products to meet those needs; the adoption rate of our products; our ability to establish and maintain successful relationships with our distribution partners; our ability to compete in our industry; fluctuations in demand, sales cycles and prices for our products and services; shortages or price fluctuations in our supply chain; our ability to protect our intellectual property rights; general political, economic and market conditions and events; and other risks and uncertainties described more fully in our documents filed with or furnished to the Securities and Exchange Commission. More information about these and other risks that may impact Riverbed's business are set forth in our Form 10-Q filed with the SEC on July 30, 2009. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we assume no obligation to update these forward-looking statements. Any future product, feature or related specification that may be referenced in this release are for information purposes only and are not commitments to deliver any technology or enhancement. Riverbed reserves the right to modify future product plans at any time.
About Riverbed
Riverbed Technology is the IT infrastructure performance company. The Riverbed family of wide area network (WAN) optimization solutions liberates businesses from common IT constraints by increasing application performance, enabling consolidation, and providing enterprise-wide network and application visibility -- all while eliminating the need to increase bandwidth, storage or servers. Thousands of companies with distributed operations use Riverbed to make their IT infrastructure faster, less expensive and more responsive. Additional information about Riverbed (NASDAQ: RVBD | Quote | Chart | News | PowerRating) is available at www.riverbed.com.
Riverbed Technology, Riverbed, Steelhead, RiOS, Interceptor, Think Fast, the Riverbed logo, Mazu, Profiler and Cascade are trademarks or registered trademarks of Riverbed Technology, Inc. All other trademarks used or mentioned herein belong to their respective owners.
About Deloitte
"As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries."
MEDIA CONTACT Kristalle Ward Riverbed Technology 415-247-8140 Email Contact INVESTOR RELATIONS CONTACT Renee Lyall Riverbed Technology 415-247-6353 Email Contact
SOURCE: Riverbed Technology
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