Secure Computing Corp, the San Jose, California-based provider of network security software, has reported a second-quarter net loss of $19.7m on revenue that plunged 62.1% to $5.5m, compared to net income of $969,000, or $0.06 per share, in the year-ago period. The loss amounted to $1.11 per share but, excluding charges, was $0.45 when analysts surveyed by First Call were expecting a loss of $0.46. Products and services revenue decreased 27% sequentially and 59% year-over-year to $4.8m, while government contracts revenue decreased 56% and 73%, respectively, to $747,000. For the six-month period, net loss was $29.4m on revenue down 49.6% at $13.7m, up from a loss of $6.4m last year. Six-month results include one-time stock option expense of $4.7m, while year-ago results include restructuring charges of $7.8m.
