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Baltimore beats analysts with Q2 salesfest

Security scares prove good for business

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Computer security firm Baltimore Technologies has surpassed Q2 expectations, with revenues of £16.3 million, against £14 million forecasts.

Losses were also lower than anticipated, coming in at £13.4 million - far lower than the forecast range of £18.4-£21 million.

The company said this was an encouraging sign it would perform to market expectations and turn a profit by the first quarter 2002.

Fran Rooney, CEO, commented: "Really what we are seeing is our ability to win deals in the United States ahead of our competitors, and across the world."

Baltimore's market is significantly different from US competitors Entrust and Verisign, he said.

"With Verisign, they don't even describe themselves as an e-security company and we really don't see their business model as something we want to move into."

The company has signed a deal with US B2B ecommerce software house Commerce One, to provide security services and products to the Marketsite section of the portal. ®

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