Sourcefire Exceeds Expectations For Q1 2006 With Sixteenth Consecutive Quarter of Record Revenue Growth; Company Becomes Cash-Flow Positive; Snort(R) Reaches 3 Millionth Download
COLUMBIA, Md. --(Business Wire)-- April 19, 2006 -- Sourcefire, Inc., the world leader in intrusion prevention, today announced that the company beat all of its business goals for the first quarter of 2006, with revenues for the twelve months ending in Q1 growing more than 68 percent over the prior year period. Sourcefire also generated significant positive cash-flows for the quarter. Contributing to the company's success in Q1 were new orders from leading global organizations including the Australian High Tech Crime Centre and Lockheed Martin.
"Our continued ability to grow and achieve aggressive business goals, even during the recent period of uncertainty, is a true testament to the high caliber of Sourcefire personnel," said Wayne Jackson, CEO of Sourcefire. "By continuing to focus on what really matters - developing innovative technology that uniquely addresses our customers security requirements - Sourcefire remains a true industry leader with tremendous opportunities."
Sourcefire also continued to build out its worldwide presence in Q1. As part of its European expansion strategy, Sourcefire promoted Graham Welch, UK Country Manager, to Managing director of EMEA. In this role, Mr. Welch will build on the company's success in the UK to grow partnerships and sales channels throughout EMEA.
In addition, the company's open source IPS, Snort, reached a major milestone during the first quarter with its 3 millionth download since launching in 1998. Over the last twelve months, the number of visitors and hits on the Snort web site (www.Snort.org) has doubled, now averaging 350,000 visitors and 13 million web hits per month.
Sourcefire is widely considered one of the most innovative firms in the security industry, garnering more than 16 awards for its technology and business success since the beginning of 2005. In the first quarter of 2006, the Sourcefire 3D System took top honors at the annual SC Magazine Awards, being named the Best Security Solution in the U.S., and it was named the "Security Product of the Year" at the European NetEvents "Technology Leader" Awards. SC Magazine previously identified the Sourcefire 3D System as "Best IPS on the Market" in its July 2005 issue.
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