Feeds

nCipher edges closer to break even

Cash mountain

  • alert
  • submit to reddit

The essential guide to IT transformation

nCipher, the niche crypto-security hardware house, has reduced Q2 operating losses to £500,000 (Q1, 2003: -£900K) on flat sales of £3.5m (Q1 £3.6m).

The Cambridge, UK company's cash burn for the quarter ended 30 June 2003 was £300K, against £400K for the previous quarter. For the half year operating loss was £1.4m, much better than the same period in 2002, when it posted an operating loss of £4.8m. H1 revenues were £7.1m, up 18 per cent (H1 2002 £6m).

nCipher attributes H1 sales growth to its entry in the online payments market with a product called payShield. The company forecasts revenue growth from this product line, and stable revenus from other products in the second half.

Other highlights for nCipher's Q2 were new relationships with Verisign and IBM and an upgrade in status with Microsoft, for which it is now a Gold Certified Partner.

nCipher closed its interims with a cash balance of £39m, a comfortable cushion to take it through to profitability. That's if the shareholders don't demand return of what still looks like, considering nCipher's size, a lot of surplus cash.

In March 2003, nCipher returned around £65m of its then £101m cash pile to shareholders. The company raised £104m in a flotation in 2000, an acquisitions war-chest which, in the event, was never needed. ®

Related story

nCipher H1 2003 press release

Next gen security for virtualised datacentres

More from The Register

next story
Ice cream headache as black hat hacks sack Dairy Queen
I scream, you scream, we all scream 'DATA BREACH'!
Goog says patch⁵⁰ your Chrome
64-bit browser loads cat vids FIFTEEN PERCENT faster!
NIST to sysadmins: clean up your SSH mess
Too many keys, too badly managed
Scratched PC-dispatch patch patched, hatched in batch rematch
Windows security update fixed after triggering blue screens (and screams) of death
Researchers camouflage haxxor traps with fake application traffic
Honeypots sweetened to resemble actual workloads, complete with 'secure' logins
Attack flogged through shiny-clicky social media buttons
66,000 users popped by malicious Flash fudging add-on
New Snowden leak: How NSA shared 850-billion-plus metadata records
'Federated search' spaffed info all over Five Eyes chums
Three quarters of South Korea popped in online gaming raids
Records used to plunder game items, sold off to low lifes
Oz fed police in PDF redaction SNAFU
Give us your metadata, we'll publish your data
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?