SonicWALL Reports Fourth Quarter And Fiscal Year 2009 Financial Results

PRESS RELEASE

SAN JOSE, Calif., Feb. 11 /PRNewswire-FirstCall/ -- SonicWALL, Inc. (Nasdaq: SNWL), today reported performance in the quarter ended December 31, 2009, with revenue of $54.1 million. The Company shipped 52,000 revenue units in the quarter. Cash flow from operations was $5.0 million.

Net income for the fourth quarter of 2009 calculated in accordance with U.S. generally-accepted accounting principles (GAAP) was $5 million, or $0.09 per diluted share. In comparison, GAAP net income for the fourth quarter of 2008 was $3.5 million, or $0.06 per diluted share.

Non-GAAP net income for the fourth quarter of 2009 was $6.0 million or $0.11 per diluted share. In comparison, non-GAAP net income for the fourth quarter of 2008 was $5.9 million, or $0.11 per diluted share. Non-GAAP net income excludes amortization of purchased intangible assets, and share-based compensation expense primarily associated with the expensing of stock options. An explanation of our use of non-GAAP measures is included in the section in this press release entitled "Use of Non-GAAP Financial Measures."

For fiscal year 2009 SonicWALL reported revenue of $200.6 million. GAAP net income for fiscal year 2009 was $13.2 million, or $0.24 per diluted share, compared to a GAAP net income of $4.9 million, or $0.08 per diluted share, in fiscal 2008.

Non-GAAP net income for fiscal year 2009 was $20.8 million, or $0.37 per diluted share, compared to $16.9 million, or $0.29 per diluted share in fiscal year