Andover, MA, 04 Aug 2008
Enterasys Networks, the Secure Networks Company, today announced financial results for the fiscal second quarter ended 28 June 2008. Revenues grew more than 12% sequentially and more than 10% over the same period in 2007. Gross margins remained strong at greater than 50% with EBITDA more than doubling over the year ago period.
"We are pleased with the solid results achieved in the first half of 2008 as we continue to focus on customer satisfaction, profitable revenue growth, new product delivery and new customer acquisition," said Mike Fabiaschi, President and CEO of Enterasys Networks. "Our outlook for the second half of the year remains optimistic as we continue our strong execution by leveraging the significant operating improvements and controls we have implemented over the past two years."
New customers in APAC included:
* Energy - Glencore Singapore
* Government - Guangdong Museum
* Retail - Quiksilver
* Transportation - KumHo-Asiana Ltd.
New customers in the CALA region included:
* Finance - MAFRE
* Government - Minist'erio da Defesa
* Government - Prodaub - Processamento de Dados de Uberl^andia
* Transportation - Aeropuerto Internacional La Aurora
* Transportation - TRENSURB
New customers in the EMEA region included:
* Entertainment - TV CABO
* Finance - Rahn & Bodmer
* Government - Landeskriminalamt Sachsen-Anhalt
* Retail - WALA Heilmittel GmbH
* Transportation - Grupo Talgo
New customers in North America included:
* Education - Moore County Schools
* Education - Tennessee Technological University
* Technology - Intuit
* Transportation - Allegiant Air
Highlights for the first half of 2008 include:
* Fixed Layer 2 switching revenue, led by the Enterasys(R) SecureStackTM A-Series and Enterasys(R) SecureStackTM B-Series edge switches, was up more than 20 % in 1H08 compared to the year ago period.
* Fixed Layer 3 switching revenues for the Enterasys(R) SecureStackTM C3 Gigabit Ethernet stackable switch increased nearly 90 %, while power Ethernet (PoE) port shipments more than doubled from 1H07.
* Port shipments for the new Enterasys(R) I-Series industrial Ethernet offering were up 45% sequentially in Q2 2008, and more than six-fold compared to the year ago quarter.
* The new Enterasys(R) G-Series policy-based edge switch continued to gain traction, with revenues and port shipments growing more than 300% sequentially in Q2 2008.
* Diamond and Platinum Distributed Forwarding Engines (DFEs) for the Enterasys Matrix(R) N-Series flow-based switches continued to show strong growth, with revenues increasing 12% and ports up 16% sequentially in Q2 2008.
* Enterasys' Enterasys Matrix(R) X-Series secure data center/core routers also had strong growth in Q2 2008, with revenues up more than 40% sequentially and 60% compared to the year ago quarter, while port shipments grew 44% sequentially and 26% on a year-over-year basis.
* 10 Gigabit Ethernet port shipments for the Matrix X-Series and Matrix N-Series more than doubled in 1H 2008, compared to 1H 2007. Triple-speed PoE shipments increased more than 75% in the first half of 2008 compared to the year ago period as Enterasys continues to be deployed in conjunction with IP telephony (VoIP) solutions from Avaya, Cisco, Mitel, NEC, Nortel, Panasonic, ShoreTel, and Siemens.
* RoamAbout(R) wireless revenue increased nearly 50% in Q2 2008 compared to the year ago quarter.
* Revenues of the Enterasys Dragon(R) Security Command Console (DSCC) security information and event management (SIEM) solution increased more than 65% in 1H 2008 compared to the year ago period, while overall Dragon software revenues were up nearly 16%.
* License shipments of the Enterasys Network Access Control (NAC) solution were up nearly 20% in the first half of 2008.
* Enterasys delivered new solutions for 10 Gigabit Ethernet connectivity, Distributed Intrusion Prevention, Dragon(R) Multi-Gigabit IDP, Enterasys(R) D-Series workgroup switching, third-generation Enterasys(R) Network Access Control, and ShoreTel certification.
* New customer success stories were published for Bahia State House of Representatives, Caixa Seguros, Dedini, InfoJobs, InteropNet, Scottish Police College, Securities America, Turkish Ministry of Justice, University of Bern, University of Florida Foundation and VeloPark.
* Enterasys was positioned in the Visionaries Quadrant in a leading analyst firm's Campus LAN Magic Quadrant.
* Enterasys received a 2007 Product of the Year Award from Communications Solutions magazine for Outstanding Innovation and Quality of the Enterasys Secure Networks for VoIP Solution
* Increased demand generation through a new North American channel program with incentives designed to enhance competitiveness in new business opportunities.
* The addition of more than 300 new customers, bringing the total for the past nine quarters to more than 1 500.
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