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Second quarter delivers solid growth and profitability for F-Secure



  • 30 July, 2008 09:15

<p>The largest part of the company’s 16% overall revenue growth in Q2 came through the solid growth of the ISP business, which grew by 35% compared to the same quarter last year. During Q2 F-Secure also took the first steps to broaden its service offering for ISP’s from the traditional security services by introducing an online back-up service. F-Secure’s total quarterly revenue was 27.2 million € (AUS$44.5m) in Q2, a new all-time high.</p>
<p>At the same time profitability was healthy with an EBIT of 4.7m€ (AUS$7.7m), or 17% of revenues. The company also paid out a dividend of 10.9m€ (AUS$17.7m) (7 eurocents per share) during Q2. The financial position of the company continues strong with more than 83m€ (AUS$135.8m) in liquid assets at the end of Q2.

F-Secure’s business through traditional channels (e.g. resellers) grew by 5% during Q2 compared to the previous year.</p>
<p>“With the good growth of our strategic ISP business continuing, it is great to see improvements in our traditional channel business as well”, says Kimmo Alkio, President and CEO of F-Secure Corporation. The company’s growth is also backed up by investments in resources: with a total of 668 employees worldwide the company now has 128 more professionals driving innovation, customer satisfaction and growth than a year ago.</p>
<p>F-Secure expects to continue growing during the second half of 2008, with full year revenues for 2008 reaching 110 to 120 million € (AUS$180m – 196m).

</p>
<p>About F-Secure Corporation
F-Secure Corporation protects consumers and businesses against computer viruses and other threats from the Internet and mobile networks. F-Secure’s award-winning solutions are available as a service subscription through more than 170 Internet service providers and mobile operator partners around the world, making F-Secure the global leader in this market. The solutions are also available as licensed products through thousands of resellers globally. The company aspires to be the most reliable security provider, helping to make computer and smartphone users’ connected lives safe and easy. This is substantiated by the company’s independently proven ability to respond faster to new threats than its main competitors. Founded in 1988 and headquartered in Finland, F-Secure has been listed on the OMX Nordic Exchange Helsinki since 1999. The company has consistently been one of the fastest growing publicly listed companies in the industry. The latest news on real-time virus threat scenarios is available at the F-Secure Data Security Lab weblog at http://www.f-secure.com/weblog/</p>

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