F-Secure trims sales forecast on back of weak economy

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F-Secure trims sales forecast on back of weak economy

Simon Quicke

Launching new services against the background of ongoing economic uncertainty is never difficult and it is the main reason for security player F-Secure cutting its sales forecast.

The vendor has moved into the data storage side of the market but with the state of the global economy remaining fragile it made the move to cut sales forecasts to between 5-10% lower than the 10% or above it had been expecting.

Although anti-virus remains the core business the vendor has expanded into securing digital content in the cloud with its Content Anywhere solution and it was the potential slowness in take-up of this service that was fingered as a reason for the sales forecast being trimmed back.

"Annual revenue growth is expected to be between 5% and 10% and EBIT expected to be around 15% of revenues. This is due to possible delays in the content cloud business," the vendor stated.

The vendor's interim report for the three months ended 31 March showed a growth in revenues if 12% hitting the 38.4m Euro mark with internet security sales and cloud subscribers driving things.

President and CEO Christian Fredrikson, praised the channel for its role in helping the business deliver in Q1: "The growth was driven by the operator channel and supported by a slight increase in channel sales. This gives us a solid base for the whole year."


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