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Commvault Reports Q1

OCEANPORT, N.J. -- Total revenues in the first quarter of fiscal 2009 were $55.0 million, an increase of 25% over the first quarter of fiscal 2008 and a decrease of 3% over the prior quarter. Software revenue in the first quarter of fiscal 2009 was $27.7 million, up 15% year-over-year and down 12% sequentially. Services revenue in the first quarter of fiscal 2009 was $27.3 million, up 37% year-over-year and 8% sequentially.

Income from operations (EBIT) was $4.5 million for the first quarter, an 8% increase from $4.2 million in the same period of the prior year. Non-GAAP income from operations (EBIT) increased 16% to $7.2 million in the first quarter of fiscal 2009 compared to $6.2 million in the first quarter of the prior year.

For the first quarter of fiscal 2009, CommVault reported net income of $3.5 million, an increase of $0.5 million compared to the same period of the prior year. Non-GAAP net income for the quarter increased 9% to $5.5 million, or $0.12 per diluted share, from $5.0 million, or $0.11 per diluted share, in the same period of the prior year.

N. Robert Hammer, CommVaults chairman, president and CEO stated, “The biggest issue that negatively impacted the quarter was the timing of deal flow with several large deals moving into the second quarter. Our quarterly results were not affected by the macro economic climate. Even with a few large deals falling into the second quarter, our overall sales funnel has increased significantly. As a result of the underlying strength of our business, we are raising our guidance for fiscal 2009.”

CommVault Systems Inc.