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Secure Reports Q2 Prelims
SAN JOSE, Calif. -- Secure Computing Corporation (NASDAQ:SCUR - News), the experts in securing connections between people, applications and networks(TM), today announced preliminary results for the second quarter ended June 30, 2006. Based upon preliminary financial data that has not yet been reviewed by the company's auditors, the company anticipates that revenue for the second quarter will be in the range of $38.5 million to $39.0 million. In its financial results press release on May 4, 2006, the company provided second quarter 2006 guidance for revenues to be in the range of $43 million to $45 million.
The company expects GAAP net loss to be in the range of $2.3 million to $2.8 million, prior to the recognition of a gain related to a tax valuation allowance that was not included in guidance. This range compares to the company's prior guidance of net income in the range of $600,000 to $900,000. However, the company now expects to recognize a gain related to the reversal of its tax valuation allowance of approximately $8.0 million, which will result in net income in the range of $4.3 million to $4.6 million. Fully diluted non-GAAP earnings per share is expected to be in the range $0.05 to $0.06, prior to the impact of the tax valuation allowance reversal, compared to the company's prior guidance of $0.10 - $0.12.
Secure Computing Corp. (Nasdaq: SCUR)