Business
Commvault Announces Fiscal 2020 Fourth Quarter Financial Results
TINTON FALLS, N.J., May 12, 2020 /PRNewswire/ -- Fourth Quarter and Fiscal 2020 Highlights Include: Fourth Quarter Fiscal 2020 GAAP Results: Revenues $164.7
About this update from Commvault Systems, Inc.
[{"type":"text","content":"TINTON FALLS, N.J., May 12, 2020 /PRNewswire/ -- \n\n \n \n \n \n \n \n\n \nFourth Quarter and Fiscal 2020 Highlights Include:\nFourth Quarter\nFiscal 2020\nGAAP Results:\nRevenues\n$164.7 million\n$670.9 million\nLoss from Operations\n$(2.2) million\n$(17.5) million\nEBIT Margin\n(1.3)%\n(2.6)%\nDiluted Income (Loss) Per Share\n$0.19\n($0.12)\nNon-GAAP Results:\nIncome from Operations (EBIT)\n$18.3 million\n$87.5 million\nEBIT Margin\n11.1%\n13.0%\nDiluted Earnings Per Share\n$0.30\n$1.45\nCommvault (NASDAQ: CVLT), a recognized global enterprise software leader in the management of data across cloud and on-premises environments, today announced its financial results for the fourth quarter and fiscal year ended March 31, 2020.\n\"We remain focused on keeping our employees safe while supporting customers during these challenging times,\" said Commvault President and CEO Sanjay Mirchandani. \"Like most, our quarterly results were impacted by the pandemic. However, we are confident in the long-term opportunities for the company, our strategy, and our return to profitable growth. Our products are mission critical; our large enterprise customer base remains strong; and our employees are resilient. All of this, when combined with our financial stability, will enable us to weather these challenges and continue to deliver industry-leading solutions to our customers.\"\nTotal revenues for the fourth quarter of fiscal 2020 were $164.7 million, a decrease of 9% year-over-year and 7% sequentially. Software and products revenue in the fourth quarter of fiscal 2020 was $66.4 million, a decrease of 18% year-over-year and 13% sequentially. Software and products revenue excludes approximately $10.0 million of completed subscription renewals that will be recognized in the first quarter of fiscal 2021, when the current subscriptions are due to expire. Services revenue in the fourth quarter of fiscal 2020 was $98.3 million, a decrease of 2% year-over-year and 1% sequentially.\nFor the full fiscal year, total revenues were $670.9 million, a decrease of 6% from fiscal 2019. Software and products revenue for the full fiscal year was $275.3 million, a decrease of 11% from fiscal 2019. Services revenue for the full fiscal year was $395.6 million, a decrease of 1% from fiscal 2019.\nOn a GAAP basis, loss from operations (EBIT) was $2.2 million for the fo...