Secure Computing's revenue increases by almost 50 percent, despite the security company posting a $10.9 million loss.
Secure Computing saw its second-quarter revenues jump by nearly 50 percent compared to the same period last year.
According to the companys earnings report, announced July 26, its quarterly revenues totaled $57.6 million, compared to $38.7 million during the same period last year and an increase of roughly $3.8 million over the first quarter.
"Q2 was another solid quarter for Secure Computing, and was a continuation of the momentum that was achieved in the second half of 2006 and in the first quarter of 2007," CEO John McNulty said in a statement. "The escalating threat environment creates demands for the sophisticated security products that we offer. With the vast majority of our acquisition integration work behind us and continuing market demand, we are looking forward to a bright future."
A provider of enterprise gateway security products, Secure Computing competes with such Web security vendors as Symantec, F-Secure and McAfee. Last year, the company spent $273 million to buy CipherTrust
, which specialized in the messaging security market.
To read about Finjans lawsuit against Secure Computing, click here.
Although the company saw a net loss of $10.9 million, it generated $12.7 million in cash from operations and reduced the long-term debt balance by $10 million. The net loss for the first quarter was $10.6 million.
In the first quarter, Secure Computing generated $12 million of cash from operations and reduced the long-term debt balance by $12 million.
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