The company said its net income per share for the three months to June 30 will be $0.05 to $0.06, which compares to a First Call analysts’ consensus of $0.09. Revenue will be $21.7m to $22m, up to $2m shy of First Call’s guess of $23.7m.
Secure, which makes firewall and content filtering software, said it believes the federal bookings problem was an anomaly, not reflective of the larger market. Nevertheless, its share price was down almost a third in after-hours trading yesterday.
CEO John McNulty said in a statement: The remainder of our sales operations performed very well with performance overall exceeding our targets, however, this was not sufficient to make up for the federal operation short fall.
Company president Tim McGurran said that, despite the shortfall, in the quarter revenue is expected to have grown over 23% compared to the same period last year, and profits will have increased between 67% and 100%.
