Cyberguard Corp. Reports Record Third Quarter Revenue |
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--July 11, 1996--CyberGuard Corp.
(NASDAQ:CYBG), a leading supplier of network security solutions, Thursday
announced it will post record third quarter revenues, with approximately $2.9
million in sales for the quarter ending June 30, 1996, compared to $430,000 in
sales for the quarter ending June 30, 1995.
This represents the fourth consecutive quarter that the company has
experienced strong quarterly revenue growth.
CyberGuard's third quarter performance was attributable to increased leads and
shipments, increased distribution channels worldwide and further penetration of
targeted vertical markets. CyberGuard's firewall unit shipment increased by more
than 50 percent, with 94 firewall systems sold during the quarter ended June 30,
1996, compared to 63 in the prior quarter of 1996. Bookings for the current
quarter were $3.3 million. The company will issue a complete earnings release in
CyberGuard Corp. continued to expand its presence in the international security
market during the third quarter. International sales accounted for more than 40
percent of the company's third quarter overall sales. The Asia-Pacific Region was
especially strong, where Japan and Korea lead the way as the Internet and
intranets continue to become a major element of business. CyberGuard also
entered the Australian network security market through a strategic distribution
partnership with QPSX Communications Pty Ltd., a leading provider of
telecommuncations services in Australia, and a subsidiary of Telstra Corp.
Value-added resellers and manufacturers representatives contributed more than
45 percent to third quarter 1996 revenue. Approximately 26 percent of the
current quarter's revenue came from two major resellers: Nissin Electric (a
CyberGuard Firewall(tm) master distributor in Japan) and Electronic Data
Bob Carberry, chairman, president and chief executive officer of CyberGuard
Corp., noted: "We are extremely pleased with this quarter's results, especially in
the international market. We are also very pleased to see revenue generation
from customers implementing the CyberGuard Firewall for intranet applications.
We plan to continue our growth path as we focus on enterprise-wide Internet and
intranet security solutions."
CyberGuard Corp. is the new name for the former Trusted Systems Division of
Harris Computer Systems Corp. The company changed its name in late June
when it finalized the sale of its real-time assets to Concurrent Computer Corp.
Results of operations, therefore, exclude sales from the real-time business which
are accounted for as a discontinued operation.
The CyberGuard Firewall is a multi-level security system that resides between a
company's internal networks or intranets, and other external networks such as
the Internet, to prevent "hackers" from gaining access to a company's sensitive
CyberGuard Corp., with headquarters in Fort Lauderdale, develops commercial
network security products designed to protect data on computer networks from
access by unauthorized users. The company targets organizations in industries
such as finance, healthcare, communication, education, manufacturing and
government that require a proven security solution. The company's
CyberGuard(tm) Firewall has an operating system and networking product that
have been tested and certified by the National Computer Security Center (NCSC)
at the B1 level of trust and by the National Computer Security Association
(NCSA). CyberGuard Corp. is a publicly held company and traded on the Nasdaq
National Market System under the symbol `CYBG.' Product and security
information can be accessed via the company's World Wide Web site at
NOTE TO EDITORS: For additional company or product information from
CyberGuard Corporation via fax, please call 800/344-4297; via Internet, access
their home page at cyberguardcorp.com. CyberGuard and CyberGuard
Firewall are trademarks of CyberGuard Corp. All other trademarks are property of
their respective owners.
In the World Wide Web address noted in this news release, there is a double slash
between http: and www.cyberguardcorp.com. This symbol may not appear
properly in some systems.
CONTACT: CyberGuard Corp.
Lisa Thornhill, Media/Investor Relations
Fred Bateman, 617/494-9500