CommVault Rallies As FY Q4 Revenues, Profits Top Street Ests

CommVault (CVLT) shares are trading higher on strong results for its fiscal fourth quarter ended March 31.
The storage systems company reported Q4 revenue of $73.4 million, up 4% sequentially, 31% higher than a year ago, and above the Street at $72.7 million. Non-GAAP profits of 21 cents a share beat the Street by two cents.
The company said that it is “entering fiscal 2011 with excellent momentum, driven by improving market conditions, stronger distribution capabilities and a best-in-class software platform.” CommVault added that it is “well-positioned for continued market share gains and consistent revenue growth.”
CVLT is up $1.59, or 7.6%, to $22.45.