Network security firm Secure Computing Corp, has turned in a profitable quarter, this time bringing in $1.0m net profit. Secure finally broke its seven quarter long losing streak last December when it turned a profit. Last quarter Secure attempted to sovet its problems, and took a $7.8m restructuring charge and axing 15% – about 40- of its staff. It also changed strategic direction, deciding to abandon its work supplying government security systems, and instead trying to grow its enterprise software and service revenues. It seems to have been successful in doing this, growing sales in the quarter by 28.2% to $14.5m, while cutting its government revenues by 32.9% to $2.8m and boosting enterprise revenues 63.1% to $11.8m. The company says that a $16m private placement in the quarter has boosted the company’s balance sheet and will strengthen it for future growth, possibly through acquisition.
