SurfControl rides spam tsunami
Strong results, shares up
Shares in UK-based censorware outfit SurfControl rose sharply today with the release of strong annual earnings results.
For the year to 30 June, SurfControl posted annual revenues of $87.3m. That's up 19 per cent on $73.2m last year and in line with analyst predictions. Earnings before bad stuff came out at $15.7m this year, with net profits up 81 per cent to $11.5m. SurfControl's Q42004 sales pegged out at $24.5m, up 20 per cent on $20.4m for Q42003.
SurfControl has announced plans to launch both appliance and managed service versions of its net filtering technology over coming months. The company predicts this increased line up (and expansion into China) will help sales reach between $97 to $102m next year, with earnings before tax of between $20 to $25m for 2004/5.
SurfControl's shares put on eight per cent after its earning's results to reach 518.50p by lunchtime today, still substantially down on the 762p SurfControl shares were changing hands at for at the start of this calendar year. ®