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CommVault: Strong Revenue Growth Thanks To Dedupe, Virtualization

Source: CRN

Author: Joe Kovar

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Improved predictability in IT spending led to strong growth in revenue for storage software vendor CommVault for its first fiscal quarter, although the company saw its earnings drop year-to-year, the company reported on Tuesday.

CommVault also cited strong interest in its data dedupe and storage virtualization technologies as drivers for its business growth, which was especially strong in the U.S. market.

CommVault reported revenue of $60.2 million for its first quarter, ended June 30. That was up over 9 percent from the $55 million the company reported in the same quarter last year.

However, the company earned $2.4 million, or 6 cents per share, during its first quarter, down 31 percent from the $3.5 million, or 8 cents per share, it reported last year.

The U.S. market accounted for about 61 percent of the company's total revenue, and was up 19 percent from last year.

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