Key Developments For Websense Inc
Websense Inc (WBSN.O) (Nasdaq)
Websense, Inc. Lowers FY 2009 Outlook
Websense, Inc. updated its fiscal 2009 outlook and expects GAAP revenue of $312-$314 million, non-GAAP revenue of $329-$331 million and non-GAAP earnings per diluted share (EPS) of $1.15-$1.18. According to Reuters Estimates, analysts were expecting the Company to report revenues of $336 million and non-GAAP EPS of $1.25 for the same period.
Websense, Inc. Completes Financial Restatement Relating To Revision Of OEM Revenue Recognition Policy
Websense, Inc. announced that it has filed with the Securities and Exchange Commission amendments to its Annual Report on Form 10-K for the year ended December 31, 2008, and Quarterly Reports on Form 10-Q for the quarters ended March 31, 2009, and June 30, 2009. Amendment No. 1 on Form 10-K/A for the year ended December 31, 2008, restates consolidated financial information for the years ended December 31, 2008, and December 31, 2007, as well as quarterly results for those years. The restatements relate to an error in the method of recognizing royalty revenue related to contracts with original equipment manufacturer (OEM) customers (and its associated impact on the tax provision), and an error in the computation of the income tax provision for the fiscal year ended December 31, 2008 that overstated the company's estimate of taxable income for the purposes of the provision. Additionally, the restated consolidated financial statements include other adjustments that were identified but not previously recorded as they were determined not to be material, either individually or in the aggregate.
Radialpoint Leverages Websense, Inc.'s Cloud-Based Threat Technology to Protect Millions of End-Users From the Latest Web
Websense, Inc. announced that Radialpoint is leveraging the carrier-grade Websense security-as-a-service threat detection and protection network -- Websense ThreatSeeker Cloud -- to provide real-time Web security protection for more than one million of its Internet service provider (ISP) customers' end-users.
Websense, Inc. Introduces Websense ThreatSeeker Cloud
Websense, Inc. announced that it has introduced the Websense ThreatSeeker Cloud, a cloud based security service that allows third party solution providers to deliver added value and dynamic security protection to their products and services. The ThreatSeeker Cloud service delivers Web, data and email security intelligence through cloud-based delivery infrastructure that powers all Websense content security products, including the Company's software-as-a-service (SaaS) security offerings and the V10000 Web Security Gateway Appliance.
Websense, Inc. Lowers FY 2009 Outlook; Issues Q3 2009 Revenue Outlook Below Analysts' Estimates; Comments on Q4 2009 Revenue Outlook; Comments On FY 2010 EPS Outlook
Websense, Inc. lowered fiscal 2009 guidance and expects GAAP revenue of $318 - $322 million, non-GAAP revenue of $334 - $338 million and non-GAAP earnings per diluted share (EPS) of $1.23 - $1.27. For the third quarter of 2009, the Company expects non-GAAP revenue to decline by approximately $1 to $2 million from second quarter 2009 non-GAAP revenue. Non-GAAP revenue for the fourth quarter of 2009 is expected to be approximately equal to third quarter of 2009 non-GAAP revenue. For fiscal 2010, the Company believes it has the potential to generate substantial growth in non-GAAP EPS compared to fiscal 2009 non-GAAP EPS, assuming the Company generates fiscal 2009 billings within the current guidance range. The Company reported non-GAAP revenue of $84.1 million in the second quarter of 2009. According to Reuters Estimates, analysts on an average were expecting the Company to report non-GAAP EPS of $1.31 on revenue of $342 million for fiscal 2009; revenue of $85 million and $87 million for the third and fourth quarters of 2009; EPS of $1.44 for fiscal 2010.
