A Baltimore-based technology firm is making money keeping computer systems secure. Sourcefire announced a 38 percent increase in revenues for the second quarter of 2009 -- topping $22.2 million for the quarter compared to $16 million for the same period in 2008. Revenues for the first six months of 2009 reached $40.8 million, an $11.1 million increase compared with the same period last year when revenues were $29.7 million.
This is big news and the best kind of news for Sourcefire. Since it went public in 2007, despite a reputation as one of the most innovative companies in the cybersecurity industry, Sourcefire had failed to turn a profit.
The improvement in financials comes one year after John Burris, a former Citrix exec, took the reigns as CEO.
"When I joined Sourcefire a year ago, we said we would grow revenue, control expenses, leverage our channel relationships, and achieve full year profitability on an adjusted basis. I am very excited by the progress that Sourcefire has made and confident in our ability to continue to execute against these objectives," Burris says.
Under his leadership, Sourcefire continues to grow and deliver new and
innovative security solutions. Most recently, the company announced a
virtual appliance for protecting leading VMware-based systems, a first
in the industry.
Writer: Walaika Haskins
Source: John Burris, Sourcefire