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SUNNYVALE, Calif., April 27 /PRNewswire-FirstCall/ -- SonicWALL, Inc. , today reported performance in the quarter ended March 31, 2009, with revenue of $47.1 million. The Company shipped 37,000 revenue units in the quarter. Cash flow from operations was $6.3 million, and the company ended the quarter with deferred revenue of $108 million.

Net income for the first quarter of 2009 calculated in accordance with U.S. generally-accepted accounting principles (GAAP) was $1.7 million, or $0.03 per diluted share. In comparison, GAAP net loss for the first quarter of 2008 was ($66,000), or $0.00 per diluted share.

Non-GAAP net income for the first quarter of 2009 was $3.9 million or $0.07 per diluted share. In comparison, non-GAAP net income for the first quarter of 2008 was $3.2 million, or $0.05 per diluted share. Non-GAAP net income excludes amortization of purchased intangible assets, restructuring charges, and share-based compensation expense primarily associated with the expensing of stock options in accordance with Financial Accounting Standards No. 123R (FAS 123R). 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."

The Company reported first quarter non-GAAP operating margin of 12%. In comparison, non-GAAP operating margin for the first quarter of 2008 was 5%. Non-GAAP Gross margin in the first quarter was 74%, compared to 72% in the first quarter of 2008.

"Our operational results demonstrate our strong commitment to improving profitability," said Matt Medeiros, CEO of SonicWALL. "The progress we have made in our cost structure, cash generation, subscription billings and deferred revenue, while continuing our investment in product innovation, position the company to capitalize on growth when demand conditions improve."