July 28, 2010
Posted by: Spyware Wiper : Category: Images
July 28, 2010
Posted by: Spyware Wiper : Category: Images
July 28, 2010
Posted by: Spyware Wiper : Category: Story
Non-GAAP Net Income increased through 29 percent year over year
Announced intended acquisition of the Command antivirus demarcation of Authentium
SUNNYVALE, Calif. — Commtouch® (NASDAQ:CTCH), a leading email and Web bulwark technology provider, today announced its second quarter 2010 results.
Second Quarter 2010 Financial Highlights:
Revenues with regard to the second quarter of 2010 increased by 10% to $4,104 multitude compared to $3,733 thousand in the second quarter of 2009.
Operating Income in conformation with US Generally Accepted Accounting Principles (US GAAP) for the maintainer quarter of 2010 increased by 45% to $994 thousand, as compared with GAAP operating income of $684 thousand in the second quarter of 2009.
Non-GAAP Operating Income on the side of the second quarter of 2010 increased by 31% to $1,332 many, as compared with non-GAAP operating income of $1,015 myriad in the second quarter of 2009.
Net income in accordance with US Generally Accepted Accounting Principles (US GAAP) for the second separate into parts of 2010 increased by 27% to $885 thousand, as compared with $696 thousand in the second quarter of 2009.
Non-GAAP gin income for the second quarter of 2010 increased by 29% to $1,320 multitude, as compared with non-GAAP net income of $1,027 ten hundred for the second quarter of 2009. Non-GAAP net income for the second quarter of 2010 excludes $338 thousand of stock-based amends expenses, recorded in accordance with Financial Accounting ASC 718 as well because $97 thousand of deferred tax expenses.
Deferred Revenues (long-term and crisp-term) as of June 30, 2010 amounted to $3,101 thousand compared to $3,682 thousand in deferred revenues as of December 31, 2009.
Operating coin flow for the second quarter of 2010 was $1,178 thousand, compared to $773 thousand in the second quarter of 2009.
Cash, friable term cash deposits and marketable securities as of June 30, 2010 amounted to $16,036 many, compared to $17,275 thousand as of December 31, 2009. The lower is primarily due to the amount expended in the share buy-back program, as noted below.
During the second quarter of 2010, the gathering continued execution of the new share buy-back program. As of June 30, 2010, the concourse had expended a total of $2,827 thousand out of the full buy-back program of $5 million, for the repurchase of 757 great number ordinary shares at an average price of $3.70 per receive. The company intends to continue to implement the buy-back contrive under the guidance of its Board of Directors.
Business Highlights:
Yesterday the gang announced that it has signed a definitive Asset Purchase Agreement to acquire the effects, products, licenses, and operations of the Command antivirus division of Authentium, Inc., a Florida-based company.
Command antivirus – which also includes technology to protect against spyware, Trojan downloaders, and other threats – is violently synergetic with the rest of Commtouch’s product portfolio.
The acquisition value will range from $4.6 million to approximately $8 million, and is dependent on the achievement of revenue targets for current Authentium customers.
The Command antivirus head is profitable and its yearly revenues, based on its current buyer base, are estimated to range between $3.5 – $4 million.
The Company sees significative business opportunity in upselling the new offering to its existing and events to come customer base.
Gideon Mantel, Commtouch’s chairman of the board and chieftain executive officer, commented: “With the completion of the Authentium acquisition, our offerings direct become a comprehensive platform, one that gives us an important strategic vantageground and puts Commtouch on a par with leading Internet security companies. We determination be able to provide to an array of markets numerous products that are greater than the compendium of their parts.”
Mr. Mantel added: “This deal comes on the heels of a surpassingly strong quarter in terms of profitability, making us confident in our expertness to fully leverage the acquisition.”
Business Outlook
Management reaffirms the conduct it provided for 2010 full year results.
Management continues to look for full year 2010 revenues to grow to between $17 million and $18 a thousand thousand. Net income for 2010 is expected to reach approximately $5 the public on a non-GAAP basis.
The Company is seeking to shut the Authentium acquisition by the end of the third quarter, and decision provide an update together with the financial results of the third part quarter.
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Tags: antivirus, sha, spyware, Story, virus