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.
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