The security vendor's sales were down sharply from the year-ago quarter, and it's not expecting a big upturn in the second half.
Network Associates Inc. on Wednesday reported net income of $1.1 million, or 1 cent a share, for its second quarter. That's down significantly from the $21.2 million, or 14 cents a share, the company earned in the same period last year.
Sequentially, revenue remained essentially flat at $216.6 million, compared with $215.2 million for the first quarter, though it was much lower than the $233 million reported in the year-ago quarter. The security vendor says it expects revenue of $220 million to $225 million for the third quarter and $255 million to $260 million for the fourth quarter.
Network Associates completed its acquisitions of intrusion-prevention companies IntruVert Networks and Entercept Security Technologies in the second quarter. "They are swallowing a lot with those acquisitions, but they're positioning themselves well for the future," says Pete Lindstrom, research director for Spire Security. "They want to own the intrusion-prevention market, and there's lots of growth potential in that area."
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.