A 91% increase in revenue from continuing operations for the 12 months to June 30 was not enough to protect security and firewall company Cyberguard Corp from losses of $12.4m. But investors are unlikely to be discouraged because this is a company heading aggressively in the right direction after recording a $31.7 loss in the previous year. Robert Carberry, chairman, president and chief executive officer, said that International Data Corp projected the firewall industry to grow at 44% by revenue and 100% by units over the past year. Cyberguard grew at twice the annual revenue growth rate and almost twice the annual growth rate during the past year. He said that the company had completed the transition from a proprietary hardware/software manufacturer to a one-stop provider of predominately software products and services. As a result, we continue to recognize significant quarter-to-quarter margin improvements with a 63% gross profit margin for the quarter just ended, said Carberry. He believes that relationships with key partners such as Data General Corp and SCO Inc will further contribute to the bottom line.
