The really impressive number was the generation of $96M in cash during 2009. Cash now totals $326M or nearly 20% of the stock valuation. On a EV basis, RVBD now trades at roughly 13x cash flow (EV of $1.3B/96M cash flow). Its been stuck in the low $20s for a while so the valuation is becoming more and more compelling. Maybe 10x a $125M estimate for 2010. Cheap, cheap, cheap!
Introducing 3 new products for cloud computing. Interesting to hear that Amazon (AMZN) is a customer for these products.
Q4’09 and FY’09 Financial Highlights