QualityStocks would like to highlight Commtouch (NASDAQ: CTCH). Commtouch safeguards the world's leading security companies and service providers with cloud-based Internet security services. A cloud-security pioneer, Commtouch's real-time threat intelligence from its GlobalView™ Network powers Web security, messaging security and antivirus solutions, protecting thousands of organizations and hundreds of millions of users worldwide.
In the company’s news yesterday,
Commtouch announced its 2011 third-quarter results and business highlights for the three months ended September 30, 2011.
The company reported third-quarter revenue at $5.9 million, a 27 percent increase compared to $4.6 million in the third quarter of 2010.
Net income for the third quarter of 2011 decreased 16 percent to $887,000, or $0.04 per diluted share, compared to $1.1 million, or $0.05 per diluted share, reported for the third quarter of 2010.
Commtouch’s deferred revenues (long-term and short-term) as of September 30, 2011, totaled $4.1 million compared to $3.5 million in deferred revenues as of June 30, 2011.
Operating cash flow for the third quarter of 2011 was $1.5 million compared to $1.6 million in the third quarter of 2010.
As of September 30, 2011, the company had cash at $17.6 million compared to $16.1 million as of June 30, 2011.
“I am happy to report another strong quarter with consistent revenue growth and improvement of our operating and net margins that led to higher profitability,” Ron Ela, Commtouch CFO stated in the press release. “This steady financial growth remains a solid basis from which to implement our future plans.”
The company noted growing demand for its products in the third quarter of 2011; a new agreement with a communications leader for which Commtouch will provide its antivirus solution; expanding contracts with existing contracts; and the launch of version eight of its e-mail and Web security solution platform.
Commtouch reaffirms its full-year 2011 guidance, expecting revenue and net income to be midrange in previous guidance of full-year revenues between $22.5 million and $23.5 million, and net income between $6.2 million and $6.7 million.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
