Increase in software subscriptions drives Websense recovery

The security sector might not have experienced the dip suffered by other areas of the channel during the downturn but it is sharing in the recovery as the latest Q1 figures from Websense show all too clearly. The vendor has reported a sharp increase in its numbers for the three months of this year


The security sector might not have experienced the dip suffered by other areas of the channel during the downturn but it is sharing in the recovery as the latest Q1 figures from Websense show all too clearly.

The vendor has reported a sharp increase in its numbers for the three months of this year when compared to the same period in 2009.

GAAP revenue increased by 2.8% to $79.8m year-on-year and net income moved back into the black hitting $0.8m compared with a loss of $1.1m in Q1 in 2009.

The driver for that return to a positive balance sheet was mainly the increase in subscriptions revenue with net billings hitting $74.6m compared to $67m a year earlier.

"Duration, average contract value and the number of large transactions all increased by significant amounts. Additionally, more than half of our incremental billings came from new label customers," said Websense CEO Gene Hodges

The increase in billings comes as the vendor is on the brink of rolling out its Triton architecture, which combines web filtering, email security and measures to protect data, handing resellers the chance to up-sell existing customers.

"There is new business from cross selling and up-selling existing customers, "said Andy Philpott, vice president of sales, UK and Ireland at Websense.

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