commvault systems inc (CVLT) Key Developments
CommVault Expands Capabilities Within its Endpoint Data Protection Solution Set
Jun 19 15
CommVault has expanded capabilities within its Endpoint Data Protection Solution Set. With the new capabilities, Commvault offers businesses an enterprise file sync and share (EFSS) solution that provides a smart complement, and/or alternative, to existing solutions by adhering to corporate data management best practices so that sensitive data remains secure in compliance with business requirements. With the launch of Commvault File Sharing, organizations now have a secure solution that brings data fully under IT control for the most security sensitive use cases, without trading off usability, as a holistic, end-to-end solution delivering comparable features, functionality and ease of use as other solutions on the market. By having a user's data stored in a secure repository accessible via any web browser or mobile device, enterprises using Commvault File Sharing are able to meet stringent regulatory and data governance requirements. Commvault also announced the availability of Edge Drive, a new feature within Commvault File Sharing, which delivers a virtual folder that acts as a 'personal cloud' for real-time sharing across mobile devices and through a web console, providing universal access for file sharing and collaboration. Edge Drive captures data from various sources, including other EFSS solutions, assuring seamless data protection and governance, without sacrificing usability, functionality or flexibility. Recognizing the broad adoption of existing file sync and share solutions in the market, Commvault Endpoint Data Protection Solution Set can also be used to complement and reduce the risk of existing cloud services by assuring that the data shared through OneDrive, Dropbox and others is visible to IT, secured and backed up, and fully searchable for use by end users and for eDiscovery. Leveraging a unique and differentiated single-platform architecture, businesses gain value from a range of features and capabilities, including: A fully-integrated solution for endpoint data backup, recovery, access, security, file sharing and data loss prevention; Flexibility in deployment options including on premises, hybrid or in the cloud (and via partners for managed or hosted solutions); Unique security and compliance benefits with enterprise-wide search and discovery of datacenter and endpoint data; Insights into file type, size and age to make more informed business decisions regarding data and information management; Increased security and usability to mobile devices, including features such as end-user search of protected data, that also improves mobile productivity; The ability to sync content across all of a user's devices; An easy way to browse, download, manage, and restore files from the Edge Drive folder to a local device; Seamless sharing of files and folders from the Edge Drive folder with other users via the web or mobile app; Enterprise-grade security so data is encrypted at source, in transit and at rest; and Administrative control to manage policies and permissions for all users at scale. Unlike many file share solutions that require the additional cost and integration efforts of third-party tools to make data searchable from multiple data silos for events such as litigation and audit, Commvault's latest file sync and share capabilities enable enterprise-wide search on a comprehensive data set for compliance and eDiscovery, including integrated legal hold. Hosted in the ContentStore, Commvault's unique single, fully-integrated data repository, files can be accessed by both internal and external users to foster productivity and collaboration without relinquishing ownership of the data or introducing new solutions. This centralized approach to data management is especially relevant in highly-regulated industries such as financial services and healthcare where having compliance, eDiscovery and security measures in place is extremely critical.
Commvault Advances to Preferred Solution Partner within the Cisco Solution Partner Program
Jun 8 15
Commvault announced that it is now a Preferred Solution Partner within the Cisco Solution Partner Program. The Internet of Everything (IoE) continues to bring together people, processes, data and things to enhance the relevancy of network connections. As a member of the Cisco Solution Partner Program, Commvault is able to quickly create and deploy solutions to enhance the capabilities, performance and management of the network to capture value in the IoE. Commvault has designed data management and protection solutions that reduce risk, improve productivity, and empower new business models. Commvault's latest partnership makes it possible for cloud service providers and enterprises to gain access to the Cisco Validated Design (CVD) reference architecture for Backup-as-a-Service (BaaS). The jointly tested and developed BaaS architecture for public/hosted, hybrid, and private cloud environments enables organizations to accelerate time to market and drive new business opportunities in a rapidly evolving and competitive market. As a Preferred Solution Partner, Commvault has achieved Cisco compatibility certification on Commvault Simpana data management software and can provide its customers with 24-hour, 7-days-a-week customer support.
CommVault Systems, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2015; Provides Earnings Guidance for the First Quarter and Full Year of Fiscal 2016
May 5 15
CommVault Systems, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended March 31, 2015. For the quarter, the company reported total revenues of USD 150.735 million compared to USD 156.819 million a year ago. Income from operations was USD 4.769 million compared to USD 24.880 million a year ago. Income before income taxes was USD 4.731 million compared to USD 25.095 million a year ago. Net income was USD 3.352 million compared to USD 15.657 million a year ago. Diluted net income per share was USD 0.07 compared to USD 0.32 a year ago. Net cash provided by operating activities was USD 35.982 million compared to USD 39.919 million a year ago. Purchase of short-term investments was USD 12.475 million compared to USD 2.998 million a year ago. Purchase of property and equipment was USD 2.042 million compared to USD 0.982 million a year ago. Non-GAAP income from operations was USD 20.299 million compared to USD 40.273 million a year ago. Non-GAAP net income was USD 12.764 million compared to USD 25.507 million a year ago. Non-GAAP diluted net income per share was USD 0.27 compared to USD 0.52 a year ago. Operating income or EBIT was USD 20.3 million.
For the year, the company reported total revenues of USD 607.543 million compared to USD 586.340 million a year ago. Income from operations was USD 38.784 million compared to USD 100.420 million a year ago. Income before income taxes was USD 38.892 million compared to USD 101.310 million a year ago. Net income was USD 25.650 million compared to USD 64.064 million a year ago. Diluted net income per share was USD 0.54 compared to USD 1.29 a year ago. Net cash provided by operating activities was USD 123.847 million compared to USD 119.137 million a year ago. Purchase of short-term investments was USD 68.933 million compared to USD 28.976 million a year ago. Purchase of property and equipment was USD 5.784 million compared to USD 4.916 million a year ago. Non-GAAP income from operations was USD 104.731 million compared to USD 151.852 million a year ago. Non-GAAP net income was USD 66.048 million compared to USD 96.228 million a year ago. Non-GAAP diluted net income per share was USD 1.40 compared to USD 1.94 a year ago. For the full fiscal year, the company achieved a record free cash flow of USD 118.1 million, which is up 3% over fiscal 2014.
For the fiscal 2016, the company expects annual operating margins to decline by approximately 100 to 150 basis points through fiscal 2015. operating margin expectations for fiscal 2016 are slightly lower than originally expected due to FX headwinds, depressed services revenue growth rate and ongoing investments and waiting for software revenue growth in the second half for the fiscal year. The company expects the cash tax rate to remain lower GAAP tax rate for fiscal 2015 and to be in the 32% to 35% range, based on the passage of expected legislation. The company will continue to use a pro forma tax rate of 37% for fiscal 2016, which is the same pro forma rate used for fiscal 2015.
For the first quarter of fiscal 2016, EBIT margins will likely decline from fourth quarter of 2015 level, but then improve sequentially as the year progresses, especially as the top line growth rate increase.
CommVault Systems Seeks Acquisitions
May 5 15
Bob Hammer, Chairman, President & Chief Executive Officer of CommVault Systems, Inc. (NasdaqGS:CVLT) said, "We have always been a Company, by the way, that's developed -- 100% of our growth has been organic. And it looks like with the new technologies that we've developed here, we're going to have opportunities in selected areas of business analytics. And there may be some acquisition opportunities."
Commvault Showcases Leadership in Data Protection and Information Management at Microsoft's Inaugural Ignite Event
May 1 15
CommVault Systems, Inc. announced that it is showcasing its latest data management and disaster recovery solutions at the Microsoft Ignite event being held May 4-8, 2015 at the McCormick Place Convention Center in Chicago. A strategic partner of Microsoft for more than 15 years, Commvault's seamless integration of its software with Microsoft's products provides customers the high level of data protection, recovery, search, and archive capabilities. To help show attendees learn how to optimize their existing Commvault & Microsoft
environments, the company has a number of unique opportunities planned at Ignite.