Fears of double dip voiced by Websense CEO


Fears of double dip voiced by Websense CEO

Simon Quicke

Problems with the Euro zone currency and the potential of a double dip cast a shadow over Websense's second quarter numbers.

The web and email filtering specialist might have benefited from sales of its gateway protection device but there was a warning that recovery in the rest of this year can not be taken for granted.

"We see challenges to our overall performance for the second half of the year from the volatility in European currency exchange rates and signs of moderate softening in the global economy," said Websense CEO Gene Hodges.

Year-on-year revenue for the second quarter rose by 5.2% to $81.9m with operating income bouncing back from a low in 2009 to rise to $7.1m from $1.4m. Net income dipped slightly down to $3.1m from $3.3m.

Subscription revenue, an indication of license sales, increased by 1.8% and Hodges said that it was growing its user base.

"We continue to generate a significant portion of our incremental billings from new customers," he said.

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