Tools
Accelerated ISP business boosts F-Secure to good growth in the second quarter
Jul 31, 2007:
Healthy profitability
F-Secure Corporation achieved accelerated, 11% quarter over quarter growth rate in its strategic Internet Service Provider (ISP) business during Q2. The overall Q2 revenue growth was also strong and increased by 18% compared to the same quarter last year, reaching a record level of €23.3m. EBIT was healthy at 16% of revenues, and €3.7m.
The strong growth of the company is increasingly driven by the continued strong execution of the Security as a Service business model in partnership with ISP’s around the world. In the ISP channel the company accelerated the quarter-over-quarter revenue growth to 11%, compared to a 6% growth in the first quarter, representing an annual growth of 37%. The ISP business growth is primarily driven through active marketing co-operation with the company’s substantial base of ISP partners. Seven new ISP’s were signed during the quarter or early Q3, including Optus (Australia), Singtel (Singapore) and NextGenTel (Norway). The company now has a total of 150 ISP partners in 35 counties, and is thus a global leader in providing security services through ISP’s.
At the same time traditional license-based channels are growing at a satisfactory rate. Revenues through other channels, including Value Added Resellers, IT Service Providers, Managed Security Service Providers, e-Store and Retail channels were with €14.8m at a satisfactory level, representing a growth of 9%.
Long-term co-operation with smartphone handset manufacturers like Nokia as well as with a number of leading mobile operators is resulting in a strongly growing amount of trial users for the company’s mobile solutions. This is also leading to a gradual increase of subscriptions and revenue from mobile solutions.
"Good to see sustainable overall revenue growth and strong execution in our ISP business", said Kimmo Alkio, President and CEO of F-Secure Corporation. "Our recent financial performance provides solid base for longer term success and expansion of our global business", continued Alkio.
For more information, please contact:
F-Secure Corporation
Kimmo Alkio, CEO,
Tel. +358 9 2520 5500
Taneli Virtanen, CFO,
Tel. +358 9 2520 5655
Jukka Kotovirta, Investor Relations,
Tel. +358 40 588 3933
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