Shawshank, VA 5/8/12 (StreetBeat) – CommVault (Nasdaq: CVLT) shares are trading sharply higher Tuesday morning on better-than-expected results for the company’s fiscal fourth quarter ended March 31.For the period, the storage software vendor posted revenue of $114 million, up from $89.6 million a year ago, and ahead of the Street at $106.1 million. Non-GAAP profits were 29 cents a share, ahead of the Street at 26 cents.
“CommVault achieved excellent fourth quarter results,” CommVault CEO N. Robert Hammer said in a statement. “This was our seventh consecutive quarter of delivering record revenues and we continue to generate strong cash flows. Our fourth quarter was highlighted by continuing momentum in software revenues which increased 34% year-over-year and 14% sequentially. This growth in software revenue was driven by record enterprise software deals (transactions greater than $100,000) and strong demand across all geographies. Our fourth quarter results concluded a strong fiscal 2012 where we achieved substantial improvements in all aspect of our business. Our solid finish to fiscal 2012 reinforces the underlying strength of our business and we believe that we are entering fiscal 2013 with excellent momentum.”
CVLT this morning is up $3.28, or 6.5%, to $54.
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