Is Riverbed Technology Inc. now the undisputed leader in the high-growth WAN optimization networking space? CEO Jerry M. Kennelly thinks so. In fact, in an interview today with The Rayno Report following yesterday's earnings announcement, Kennelly said that Riverbed's big numbers in 2009 have now established it as the ""recognized and permanent" leader of the WAN op. Given the company's growth, there's pretty good reason to believe Kennelly. In announcing earnings, the company hit a new quarterly revenue record with $113.2 million in sales, up 10% over the prior quarter and 23% over the prior year. For the fiscal year 2009, GAAP revenue was $394.1 million, up 18% from $333.3 million in fiscal year 2008. The company says it now has 7,300 customers worldwide. It generated $100 million in operating cash flow in 2009, and added to its cash stockpile, with $325 million in cash and marketable securities.

BlueKai CEO Omar Tawakol, who just landed $21 million in financing and whose company has an interesting vision for the future of the Internet advertising industry, spoke with The Rayno Report on Monday about the direction of his company and the new financing.  Tawakol believes his company is onto a multi-billion dollar opportunity. BlueKai aggregates anonymous user data from across the Internet for advertising agencies. It tracks the anonymous user data with a cookie. BlueKai's partners and customers then pay for access to that data and the cookie through an auction process, so that they can see more detailed information about users and target their ads more specifically. Tawakol believes the industry is in the midst of a data "paradigm shift," in that the data aggregation model exists in the offline world, but has not yet been effectively implemented in the new online world. "It's a paradigm issue," says Tawakol, "The new winners usually come from the new paradigm, not the old one."

Click Software beat earnings estimates by a penny and showed modest growth over the comparable quarter of 2009 as well as the fourth quarter of last year. For the fourth quarter ended December 31, 2009, the company reported revenues of $17.2 million, with net income of $3.8 million, or $0.12 per fully diluted share. This compares with revenues of $14.1 million and net income of $5.0 million, or $0.17 per fully diluted share, for the same period last year, and revenues of $16.6 million and net income of $3.2 million, or $0.10 per fully diluted share, for the third quarter of 2009. Right now the stock is getting hammered pretty good, down about 6%. I think this may be in large part due to comments toward the end of the conference calls about margin pressue due to "increased investment." Given that they raised revenue guidance, I would say the stock is buyable on weakness.