|By PR Newswire||
|January 13, 2013 06:50 PM EST||
SAN DIEGO, Jan. 13, 2013 /PRNewswire/ -- Websense, Inc. (NASDAQ: WBSN) today announced that its board of directors has named John McCormack as the company's chief executive officer and as a board member, effective immediately. He succeeds Gene Hodges, who is retiring after serving as both CEO and a board member since January 2006. Websense also announced record fourth quarter billings performance, Charles Boesenberg's appointment to the board of directors, and Russ Dietz as the company's chief technology officer.
"The board and I would like to thank and congratulate Gene for a strong fourth quarter performance and for all that he has accomplished in transforming Websense into a leading content security provider," said John Carrington, chairman of the Websense board of directors. "We wish Gene the best in his retirement, and we are confident that he leaves Websense well-positioned as we continue to extend our technology leadership and achieve corporate objectives."
"John McCormack has taken the lead in the successful execution of our strategic initiatives, enabling us to generate solid fourth quarter billings growth amid the continued expansion of our field sales organization," said Carrington. "As president, he has demonstrated his executive acumen while leading our worldwide sales and sales engineering teams; our marketing, product management, business development and technical support organizations; as well as the Websense® Security Labs™ and research and development."
Preliminary Fourth Quarter Financial Results
Websense also released its preliminary fourth quarter 2012 results today. The company expects billings to be approximately $122 million, up 5 percent year-over-year, exceeding its guidance range of $112 to $117 million for the fourth quarter. Also for the fourth quarter, Websense expects revenues of $91.5 to $92.0 million, versus guidance of $90 to $92 million.
Non-GAAP earnings per diluted share are expected to be in the range of $0.27 to $0.28, versus guidance of $0.32 to $0.35, primarily reflecting the increased sales commissions incurred with the higher-than-expected billings during the quarter.
The company expects fourth quarter cash flow from operations to be approximately $11 million, versus guidance of $8 to $11 million, also reflecting the higher level of billings.
"With solid sales of our TRITON™ products across all global markets, we were able to achieve billings results above our expectations," said John McCormack, Websense CEO. "I look forward to continuing this momentum as we expand our sales coverage and reach more customers with our innovative content security solutions."
Complete financial results for the fourth quarter and full year 2012 will be released after the market close on January 29, 2013.
Charles Boesenberg Appointed to Board of Directors
Websense also announced that Charles Boesenberg was appointed as an independent director, effective today.
"We are pleased to strengthen our board with the addition of Charles Boesenberg, a seasoned board member with more than 30 years of experience in accelerating growth for high-tech companies as both a CEO and an independent director," said Carrington.
Boesenberg is currently a board member for Boingo Wireless, Callidus Software®, Keynote® Systems and Silicon Graphics International Corporation (SGI®). He has previously served on the boards of Symantec™, Ancestry.com®, Rackable Systems, Onyx Software Corporation, Macromedia, Maxtor and Interwoven. Boesenberg is the former chief executive officer and chairman of the board of NetIQ® Corporation; president and CEO of Integrated Systems Inc; and has held senior executive level positions at companies including Magellan Corporation, Central Point Software, Apple® Inc., Data General and IBM®.
Boesenberg's memberships on Websense board committees will be determined in the near future.
Websense CEO John McCormack joined the company in July 2006 as senior vice president of product development and was named president in April 2009.
"With more than 25 years of security and industry experience, McCormack's leadership, vision and technical insight has been a driving force in Websense's global expansion and ground-breaking innovation," said Carrington. "Under his guidance, Websense has emerged as a consistent leader in the rapidly evolving content security industry. His vision is reflected in the award-winning Websense TRITON architecture, which unifies the essential components of modern threat defense and data theft prevention into a cohesive content security system that offers best-in-class security effectiveness and pervasive deployment across an integrated appliance and cloud platform."
In addition to the appointment of McCormack as CEO, Russ Dietz has also been named Websense chief technology officer (CTO).
Russ Dietz joined Websense in November 2012 as CTO and executive vice president of product development. He is responsible for the future of Websense TRITON security technology and product strategy, innovation, and research and development. Dietz will oversee the worldwide Websense engineering, product management and security lab teams.
"Russ has a unique combination of business, market, and technology skills that will prove invaluable as we continue to build upon our innovative TRITON platform," said McCormack. "Our continued investment in cloud, mobile, data, and internet security will be enhanced by his leadership and proven success in these areas. TRITON has set the industry benchmark for best-in-class integrated content security and I'm confident that Russ can lead our team's efforts to accelerate our momentum as we enhance this technology platform."
Dietz brings more than 30 years of experience in the technology and security space to Websense. He has a proven record of success as CTO of multiple hardware, software and systems security companies, and is a recognized pioneer and innovator in cloud computing and virtualization security solutions. Dietz holds more than 20 patents in encryption, authentication and network traffic behavior and analysis.
"Websense is extremely well-positioned in the marketplace, and I am proud to join the Websense team," said Russ Dietz, Websense CTO. "I look forward to extending the company's technology platform as well as expanding its market leadership. My goal is to drive continued innovation in the delivery of integrated content security, both in the cloud and through on-premise appliances, maintaining our corporate commitment that no one stops more security threats than Websense."
Non-GAAP Financial Measures
This news release refers to earnings per diluted share that is not calculated in accordance with generally accepted accounting principles (GAAP). Non-GAAP earnings per diluted share adjusts for the following items: acquisition related adjustments, share-based compensation expense, amortization of intangible assets, deferred expenses and certain other items. Management believes this non-GAAP financial measure provides meaningful supplemental information regarding our performance that enhances management's and investors' ability to evaluate the company's operating results, trends and prospects and to compare current operating results with historic operating results. A reconciliation of GAAP earnings per diluted share and non-GAAP earnings per diluted share for the fourth quarter of 2012 will be provided when our final fourth quarter financial results are released on January 29, 2013.
This news release also includes billings which is not a numerical measure that can be calculated in accordance with GAAP. Websense provides this measurement in news releases reporting financial performance because this measurement provides a consistent basis for understanding the company's sales activities in the current period. The company believes the billings measurement is useful to investors because the GAAP measurements of revenue and deferred revenue in the current period include subscription contracts commenced in prior periods. A reconciliation of billings to deferred revenue for the fourth quarter of 2012 will be provided when final fourth quarter financial results are released on January 29, 2013.
About Websense, Inc.
Websense, Inc. (NASDAQ: WBSN), a global leader in unified web security, email security, mobile security, and data loss prevention (DLP), delivers the best content security for modern threats at the lowest total cost of ownership to tens of thousands of enterprise, mid-market and small organizations around the world. Distributed through a global network of channel partners and delivered as appliance-based software or SaaS-based cloud services, Websense TRITON content security solutions help organizations leverage social media and cloud-based communication, while protecting from advanced persistent threats and modern malware, preventing the loss of confidential information, and enforcing internet use and security policies. Websense is headquartered in San Diego, California with offices around the world. For more information, visit www.websense.com.
Follow Websense on Twitter: www.twitter.com/websense
Join the discussion on Facebook: www.facebook.com/websense
This news release contains forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause Websense's results to differ materially from historical results or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including the estimates of the fourth quarter 2012 results, statements regarding expansion of sales coverage and expected benefits, billings and growth momentum, statements regarding the expected contributions of new management, statements of belief and any statements of assumptions underlying any of the foregoing, and any statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" or similar words. The potential risks and uncertainties which contribute to the uncertain nature of these statements include, among others, risks associated with expanding Websense's sales force on a global basis, including hiring and integration related risks, customer acceptance of the company's products and services, product performance, launching new product offerings, products and fee structures in a changing market, the success of Websense's brand development efforts, the volatile and competitive nature of the Internet and security industries, changes in domestic and international market conditions, including in continental Europe, fluctuations in currency exchange rates and impacts of macro-economic conditions on our customers, ongoing compliance with the covenants in the company's credit facility, changes in accounting interpretations and the other risks and uncertainties described in Websense's public filings with the Securities and Exchange Commission, available at www.websense.com/investors. Websense assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.
SOURCE Websense, Inc.
Early adopters of IoT viewed it mainly as a different term for machine-to-machine connectivity or M2M. This is understandable since a prerequisite for any IoT solution is the ability to collect and aggregate device data, which is most often presented in a dashboard. The problem is that viewing data in a dashboard requires a human to interpret the results and take manual action, which doesn’t scale to the needs of IoT.
Jul. 25, 2016 01:00 PM EDT Reads: 1,920
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Jul. 25, 2016 12:15 PM EDT Reads: 400
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
Jul. 25, 2016 12:00 PM EDT Reads: 1,812
IoT generates lots of temporal data. But how do you unlock its value? You need to discover patterns that are repeatable in vast quantities of data, understand their meaning, and implement scalable monitoring across multiple data streams in order to monetize the discoveries and insights. Motif discovery and deep learning platforms are emerging to visualize sensor data, to search for patterns and to build application that can monitor real time streams efficiently. In his session at @ThingsExpo, ...
Jul. 25, 2016 11:00 AM EDT Reads: 897
Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Yahoo! Inc. (Nasdaq: YHOO) have entered into a definitive agreement under which Verizon will acquire Yahoo's operating business for approximately $4.83 billion in cash, subject to customary closing adjustments. Yahoo informs, connects and entertains a global audience of more than 1 billion monthly active users** -- including 600 million monthly active mobile users*** through its search, communications and digital content products. Yahoo also co...
Jul. 25, 2016 10:30 AM EDT Reads: 288
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Jul. 25, 2016 10:30 AM EDT Reads: 1,937
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 25, 2016 10:15 AM EDT Reads: 1,864
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
Jul. 25, 2016 10:00 AM EDT Reads: 983
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
Jul. 25, 2016 09:45 AM EDT Reads: 1,127
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Jul. 25, 2016 09:30 AM EDT Reads: 2,102
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
Jul. 25, 2016 09:15 AM EDT Reads: 2,002
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
Jul. 25, 2016 08:30 AM EDT Reads: 1,275
Large scale deployments present unique planning challenges, system commissioning hurdles between IT and OT and demand careful system hand-off orchestration. In his session at @ThingsExpo, Jeff Smith, Senior Director and a founding member of Incenergy, will discuss some of the key tactics to ensure delivery success based on his experience of the last two years deploying Industrial IoT systems across four continents.
Jul. 25, 2016 06:00 AM EDT Reads: 1,499
There will be new vendors providing applications, middleware, and connected devices to support the thriving IoT ecosystem. This essentially means that electronic device manufacturers will also be in the software business. Many will be new to building embedded software or robust software. This creates an increased importance on software quality, particularly within the Industrial Internet of Things where business-critical applications are becoming dependent on products controlled by software. Qua...
Jul. 25, 2016 05:45 AM EDT Reads: 1,377
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Jul. 25, 2016 05:00 AM EDT Reads: 2,020
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
Jul. 25, 2016 04:15 AM EDT Reads: 2,410
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Jul. 25, 2016 03:45 AM EDT Reads: 2,198
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
Jul. 25, 2016 01:45 AM EDT Reads: 1,262
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
Jul. 25, 2016 01:30 AM EDT Reads: 1,270
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Jul. 25, 2016 12:30 AM EDT Reads: 1,896