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Corero Network Security narrows losses as revenue boosted by new business wins

By BFN News | 08:44 AM | Tuesday 15 September, 2020

Cybersecurity company Corero Network Security narrowed first-half losses as a jump in new business wins boosted revenue. For the six months ended 30 June 2020, pre-tax losses narrowed to $2.7m from $3.9m on-year as revenue was up 48% to $6.2m. Order intake increased by 58% to $7.9m, following 18 new customer wins in the period. Gross margins fell to 75% from 79% as a result of the trading solutions mix, the company said. 'Demand for DDoS solutions remain strong giving the Company solid foundations for 2021 and beyond,' the company said. 'The board continues to evaluate the ongoing impact of COVID-19, however, the significant increase in internet usage globally has generated a proportionate higher volume of DDoS attacks,' it added. At 8:44am: (LON:CNS) Corero Network Security PLC share price was +0.25p at 8.5p Story provided by

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