CyberGuard Corp. reports record third quarter revenue.FORT LAUDERDALE Fort Lauderdale (lô`dərdāl), residential, commercial, and resort city (1990 pop. 149,377), seat of Broward co., SE Fla., on the Atlantic coast; settled around a fort built (c.1837) in the Seminole War, inc. 1911. , Fla.--(BUSINESS WIRE)--July 11, 1996--CyberGuard Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CYBG), a leading supplier of network security solutions, Thursday announced it will post record third quarter revenues, with approximately $2.9 million in sales for the quarter ending June 30, 1996, compared to $430,000 in sales for the quarter ending June 30, 1995. This represents the fourth consecutive quarter that the company has experienced strong quarterly revenue growth. CyberGuard's third quarter performance was attributable to increased leads and shipments, increased distribution channels worldwide and further penetration of targeted vertical markets. CyberGuard's firewall unit shipment increased by more than 50 percent, with 94 firewall systems sold during the quarter ended June 30, 1996, compared to 63 in the prior quarter of 1996. Bookings for the current quarter were $3.3 million. The company will issue a complete earnings release in mid-August. CyberGuard Corp. continued to expand its presence in the international security market during the third quarter. International sales accounted for more than 40 percent of the company's third quarter overall sales. The Asia-Pacific Region was especially strong, where Japan and Korea lead the way as the Internet and intranets continue to become a major element of business. CyberGuard also entered the Australian network security market through a strategic distribution partnership with QPSX QPSX Queued Packet and Synchronous Circuit eXchange QPSX Queued Packet Switch Exchange QPSX Queue Packet and Synchronous Circuit Exchange Communications Pty Ltd PTY LTD Propriety Limited (company structure in Australia) ., a leading provider of telecommuncations services in Australia, and a subsidiary of Telstra Corp. Value-added resellers A value-added reseller (VAR) is a company that adds some feature(s) to an existing product(s), then resells it (usually to end-users) as an integrated product or complete "turn-key" solution. and manufacturers representatives contributed more than 45 percent to third quarter 1996 revenue. Approximately 26 percent of the current quarter's revenue came from two major resellers: Nissin Electric (a CyberGuard Firewall(tm) master distributor in Japan) and Electronic Data Systems (USA). Bob Carberry, chairman, president and chief executive officer of CyberGuard Corp., noted: "We are extremely pleased with this quarter's results, especially in the international market. We are also very pleased to see revenue generation from customers implementing the CyberGuard Firewall for intranet applications. We plan to continue our growth path as we focus on enterprise-wide Internet and intranet security solutions." CyberGuard Corp. is the new name for the former Trusted Systems In the security engineering subspecialty of computer science, a trusted system is a system that is relied upon to a specified extent to enforce a specified security policy. As such, a trusted system is one which failure may break a specified security policy. Division of Harris Computer Systems Corp. The company changed its name in late June when it finalized See finalization. the sale of its real-time assets to Concurrent Computer Corp. Results of operations, therefore, exclude sales from the real-time business which are accounted for as a discontinued operation discontinued operation A segment of a business that has been abandoned or sold or for which plans for one or another of these actions have been approved. See also continuing operations. . The CyberGuard Firewall is a multi-level security system that resides between a company's internal networks or intranets, and other external networks such as the Internet, to prevent "hackers" from gaining access to a company's sensitive data. CyberGuard Corp., with headquarters in Fort Lauderdale, develops commercial network security products designed to protect data on computer networks from access by unauthorized users. The company targets organizations in industries such as finance, healthcare, communication, education, manufacturing and government that require a proven security solution. The company's CyberGuard(tm) Firewall has an operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. and networking product that have been tested and certified See certification. by the National Computer Security Center (NCSC (National Computer Security Center) The arm of the U.S. National Security Agency that defines criteria for trusted computer products, which are embodied in the Orange Book and Red Book. ) at the B1 level of trust and by the National Computer Security Association (NCSA (1) (National Center for Supercomputing Applications, Urbana-Champaign, IL, www.ncsa.uiuc.edu) A high-performance computing facility located at the University of Illinois at Urbana-Champaign. ). CyberGuard Corp. is a publicly held company and traded on the Nasdaq National Market System under the symbol `CYBG.' Product and security information can be accessed via the company's World Wide Web site at http://www.cyberguardcorp.com. -0- NOTE TO EDITORS: For additional company or product information from CyberGuard Corporation via fax, please call 800/344-4297; via Internet, access their home page at http://www.cyberguardcorp.com. CyberGuard and CyberGuard Firewall are trademarks of CyberGuard Corp. All other trademarks are property of their respective owners. In the World Wide Web address noted in this news release, there is a double slash between http: and www.cyberguardcorp.com. This symbol may not appear properly in some systems. CONTACT: CyberGuard Corp. Lisa Thornhill, Media/Investor Relations 954/977-5615 or FitzGerald Communications/Media Fred Bateman, 617/494-9500 |
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