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RSA Security Inc. on Thursday reported earnings of $0.05 per share on revenue of $63.4 million, a 12 percent jump in revenue compared to the same period last year.
These numbers represent a major turnaround from 2002 for RSA. Twelve months ago the company posted a net loss of $25 million, or $0.44 per share, on revenue of $56.5 million. Much of that damage came from charges stemming from a major restructuring, as well as an $11 million loss on some investments.
RSA, based in Bedford, Mass., also named Joseph Uniejewski the companys chief technology officer. He has been with the company since 1998 and was previously the senior vice president of the Web Access Management division.
RSA officials were happy with the quarters results and are optimistic that the companys turnaround will continue. The company expects to post earnings of $0.02 to $0.05 per share in the third quarter.
“We were indeed pleased with the results for this quarter and the company hasnt even hit its stride yet,” said CEO Art Coviello. “Were recapturing the operational model the company was built on.”
Coviello said RSA will continue to focus on its authentication and identity management solutions going forward. Much of the future success or failure of the companys products is tied to a new technology code named Nexus, the overarching server that binds the identity management solutions together.
RSA announced Nexus at its namesake conference in April and pledged to use the technology to support the Liberty Alliance Projects efforts to build a federated single sign-on system for the Web.