Security vendor TippingPoint Technologies Inc. announced its third-quarter results yesterday, posting revenues of $9.7 million, up 370 percent from the same period last year. Revenues weighed in more than a million dollars above analysts' estimates of $8.47 million.
However, the Austin, Texas-based company posted a net loss for the quarter of $1.8 million, or 24 cents per share, compared with a loss of $3.1 million a year ago. Included in the figure were $747,000 in stock compensation. Earnings per share were also up over analysts' estimates of a 27 cent loss.
Although not one of the larger players in the security market, TippingPoint, with its flagship UnityOne IPS (intrusion protection system) product, has been earning a reputation as something of a pioneer in the VOIP space (see Vendor Points to VOIP Vulnerabilities).
But after boosting the VOIP capabilities of its product line earlier this year, the next major target for TippingPoint is Spyware, according to execs on a conference call earlier today. TippingPoints CEO Kip McClanahan said that the company will soon be announcing a new digital vaccine to prevent data being transferred via the Internet to unauthorized third parties.
This software will block the transfer of data from infected PCs, as well as preventing certain forms of Spyware from being installed on machines, he said.