McAfee hints at acquisitions after favourable results

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McAfee hints at acquisitions after favourable results

Microscope contributor

The security market is expected to be robust according to those operating in the market and that view has been backed up by quarterly figures from McAfee.

The security software specialist beat expectations with itsQ4 numbers indicating that the demand from customers for tools to counter the continuing surge of viruses and hacking threats has remained unabated.

Total revenue for the quarter rose by 19% to $424m and GAAP net income rose to $45.4m from $12.2m in the same period a year before.

In a statement, CEO Dave DeWalt said that it had benefited from the acquisition of Secure Computing, cutting costs and the continued demand for its products.

He also hinted that it would continue a strategy of acquisitions to support its growth ambitions.

DeWalt added that it had gained market share for the past seven quarters and aimed to continue to grow its portion of the industry.

“This is the time for McAfee to grow and to take market share. We believe we have the financial resources, the team, the product leadership, the go-to-market strategy, the partner eco-system and the global brand to compete effectively and win,” he said.

Unlike most other vendors DeWalt was happy to provide some ideas of where the company was headed for the rest of the year.

He said it was going to improve non-GAAP operating margin by integrating the investments it made last year and by continuing to keep the pressure on cutting costs, which included a hiring freeze and tightening the screw on travel expenses.


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