Blue Coat Systems, Inc. (Nasdaq: BCSI), the Web appliance company "working to make the Web safe for business", posted stellar earnings today beating the Street's estimates by $.06 and raised guidance for it's third quarter.
BloggingStock's Georges Yared had a good write-up in August on the company's wide-area-network (WAN) optimization product. Yared has had a good call on this one and indeed, it's the company that keeps on giving with continued stock growth (it's up 200% so far for 2007). Yared has named Blue Coat to his list of "Top 25 Stocks for the Next 25 Years".
In a research piece issued last week, ThinkEquity analysts said that recent checks with US-based retailers suggest sustained growth in Blue Coat's WAN optimization and Web-security appliance in the US and increased sales momentum overseas. "We believe the WAN optimization growth secular trend continues to be strong and Blue Coat's differentiated unified offering continues to drive demand for Blue Coat in the U.S. and increase momentum overseas," said Jonathan Ruykhaver, a ThinkEquity analyst.
Boy, were they right. Net revenue for the second fiscal quarter of 2008 was $73.4 million, an increase of 85% compared to net revenue of $39.7 million for the same quarter last year and an 18% increase compared to net revenue of $62.4 million in the prior quarter.
Things are certainly humming for Blue Coat.
Zack Miller is the Managing Editor of IsraelNewsletter.com and a former equity analyst for a leading multinational hedge fund. Author holds no positions in the stocks mentioned above.
Blue Coat Systems seeing green
Posted Nov 20th 2007 6:09PM by Zack Miller
Filed under: Internet, Technology
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