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Corero losses narrow as revenues rise

By BFN News | 07:33 AM | Thursday 06 April, 2017


Corero Network Security's total revenues rose by 5% to $8.8m in the year to the end of December and losses before interest, tax, depreciation and amortisation fell to $5.1m from $6.4m. The group reported a strong performance from its flagship SmartWall product with revenue up 62%; customer numbers up to 64 at 31 December 2016 (up from 29 at 31 December 2015) and a 100% support renewal rate. Chief executive Ashley Stephenson said: "With the DDoS threat landscape continuing to move in our favour, independent third party validation from one of the world's leading product test laboratories, and a growing SmartWall install base, the Board is increasingly confident in Corero's ability to become the leading player in the real-time DDoS mitigation market. "Corero has continued to invest in its technology in the period, and with the new as-a-service sales model and focus on go-to-market partnerships such as the alliance with Juniper that expand our addressable market, is now focused on delivering revenue growth. "We have started the new financial year well, having signed our largest SmartWall deal to date, and look forward to reporting further commercial progress in the coming months." Story provided by StockMarketWire.com

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