Welcome Guest. | Log In | Register | Membership Benefits

Websense Reports Record Revenues For Fourth Quarter And Fiscal Year 2011

Fourth quarter revenue of $92.7 million, up 7 percent year-over-year

Feb 09, 2012 | 04:58 PM | 


SAN DIEGO, Jan. 31, 2012 /PRNewswire/ -- Websense, Inc. (NASDAQ: WBSN) today announced financial results for the fourth quarter and fiscal year 2011.

"Our fourth quarter results were driven by the success of our TRITON(TM) solutions, which accounted for 60 percent of end-user billings," said Gene Hodges, Websense CEO. "This was the third consecutive quarter TRITON solutions accounted for the majority of billings as our sales team demonstrated continued success upgrading our legacy URL filtering customers to our integrated web, email and data security offerings."

"As expected, strength in the enterprise segments of the U.S. and emerging markets was balanced by weakness in continental Europe, which we believe reflected the region's continued economic uncertainty," added Hodges. "Our performance in the second half of 2011 confirms that there is demand for our TRITON content security solutions, and we can continue to grow enterprise billings even in slow-growth macro-economic environments."

Fourth Quarter 2011 GAAP Financial Highlights

-- Revenues of $92.7 million, compared with $86.4 million in the fourth quarter of 2010. -- Software and services revenues of $82.3 million, compared with $82.2 in the fourth quarter of 2010. -- Appliance revenues of $10.4 million, consisting of approximately $8.3 million in current-period appliance sales and approximately $2.1 million of deferred appliance revenue from pre-2011 appliance sales, compared with $4.2 million of appliance revenues in the fourth quarter of 2010, the majority of which was recognized from deferred appliance revenue. -- Operating income of $13.4 million, compared with $7.7 million in the fourth quarter of 2010. -- Provision for income taxes of $2.2 million, representing an effective tax rate of 17.8 percent, compared with a tax benefit of $2.0 million in the fourth quarter of 2010. -- Net income of $10.4 million, or 27 cents per diluted share, compared with $8.9 million, or 21 cents per diluted share, in the fourth quarter of 2010. -- Weighted average diluted shares outstanding of 38.9 million, compared with 42.2 million in the fourth quarter of 2010. -- Cash flow from operations of $21.9 million, compared with $14.0 million in the fourth quarter 2010. -- Quarter end accounts receivable of $80.1 million, compared with $59.8 million at the end of the third quarter of 2011 and $82.2 million at the end of the fourth quarter of 2010. -- Days billings outstanding of 62 days, compared with 64 days billings outstanding at the end of the third quarter of 2011 and 67 days at the end of the fourth quarter of 2010. -- Deferred revenue of $393.0 million, a decrease of $1.3 million compared with deferred revenue of $394.3 million at the end of the fourth quarter of 2010. -- Deferred revenue from pre-2011 appliance sales of $8.6 million, a decrease of $11.4 million from the end of the fourth quarter of 2010. Deferred revenue from pre-2011 appliance sales will continue to decrease quarterly as it is depleted by ratable recognition over the original subscription periods.

On January 1, 2011, Websense was required to adopt Accounting Standards Update (ASU) 2009-13 (Multiple Deliverable Revenue Arrangements) and ASU 2009-14 (Certain Revenue Arrangements that Include Software Elements), which require the immediate recognition of appliance revenues upon sale. Consequently, fourth quarter 2011 appliance revenues of $10.4 million consisted primarily of $8.3 million of revenue recognized from fourth quarter 2011 appliance sales and $2.1 million of deferred appliance revenues from pre-2011 appliance sales. As discussed further below, the company will continue to recognize deferred revenue from pre-2011 appliance sales ratably over the original subscription terms.

Fourth quarter pre-tax income was correspondingly higher by approximately $3.0 million than estimated pre-tax income would have been if calculated using ratable recognition of appliance revenue and costs. The impact of accounting and policy changes on our 2011 results is described more fully in the "2011 Policy Changes" section of this release.

Fourth Quarter 2011 Non-GAAP(1) Financial Highlights

-- Billings of $116.0 million, an increase of four percent compared with the fourth quarter of 2010. Changes in currency exchange rates, compared with exchange rates prevailing in the fourth quarter of 2010, did not materially impact fourth quarter 2011 billings performance. -- End-user customer billings of $114.8 million, an increase of five percent compared with $109.4 million in the fourth quarter of 2010. End-user customer billings exclude billings to original equipment manufacturers (OEMs), which totaled $1.2 million in the fourth quarter of 2011 and $1.8 million in the fourth quarter of 2010. -- GAAP revenues of $92.7 million, an increase of seven percent compared with non-GAAP revenues of $86.6 million in the fourth quarter of 2010. (2) -- Non-GAAP operating income of $21.7 million, compared with non-GAAP operating income of $19.5 million in the fourth quarter of 2010. -- A non-GAAP tax provision of $3.9 million, for an effective tax rate of 18.5 percent, compared with a non-GAAP tax provision of $5.9 million, for an effective tax rate of 30.7 percent, in the fourth quarter of 2010. The quarter-over-quarter decline in the non-GAAP effective tax rate primarily resulted from the estimated impact of the company's international distribution restructuring on the long-term effective tax rate, as well as the estimated 2011 tax benefits associated with the company's equity compensation programs. -- Non-GAAP net income of $17.1 million, or 44 cents per diluted share, compared with $13.3 million, or 32 cents per diluted share, in the fourth quarter of 2010.

Fiscal Year 2011 GAAP Financial Highlights

-- Revenues of $364.2 million, an increase of nine percent compared with $332.8 million in 2010. -- Software and services revenues of $325.4 million, compared with $320.6 million in 2010. -- Appliance revenues of $38.8 million, consisting primarily of approximately $27.4 million in current-period appliance sales and approximately $11.4 million of deferred appliance revenue from pre-2011 appliance sales, compared with $12.2 million in appliance revenues in 2010, the majority of which was recognized from deferred appliance revenue. -- Operating income of $44.4 million, compared with $30.8 million in 2010. -- Provision for income taxes of $13.0 million, representing an effective tax rate of 29.6 percent, compared with a tax provision of $7.6 million and an effective tax rate of 29.0 percent in 2010. -- Net income of $31.0 million, or 76 cents per diluted share, compared with $18.7 million, or 43 cents per diluted share, in 2010. -- Weighted average diluted shares outstanding of 40.7 million, compared with 43.4 million in 2010. -- Cash flow from operations of $79.2 million, compared with $90.1 million in 2010.

Fiscal Year 2011 Non-GAAP(1) Financial Highlights

-- Billings of $362.9 million, an increase of five percent compared with $347.0 million in 2010. Changes in currency exchange rates, compared with exchange rates prevailing in 2010, increased 2011 billings by approximately $6.6 million. -- End-user customer billings of $359.4 million, an increase of seven percent compared with $336.2 million in 2010. End-user customer billings exclude billings to original equipment manufacturers (OEMs), which totaled $3.5 million in 2011 and $10.7 million in 2010. -- GAAP revenues of $364.2 million, compared with non-GAAP revenues of $337.0 million in 2010.(2) -- Non-GAAP operating income of $78.6 million, compared with non-GAAP operating income of $83.6 million in 2010. -- Provision for income taxes of $14.5 million, representing a non-GAAP effective tax rate of 18.5 percent, compared with a tax provision of $25.6 million and a non-GAAP effective tax rate of 32.0 percent in 2010. The year-over-year decline in the non-GAAP effective tax rate primarily resulted from the impact of the company's international distribution restructuring on the effective tax rate, as well as the 2011 tax benefits associated with the company's equity compensation programs. -- Non-GAAP net income of $63.9 million, or $1.57 per diluted share, compared with $54.5 million, or $1.26 per diluted share, in 2010.

Summary Metrics

Quarterly Annual --------- ------ Millions, except percentages, exchange rates, contract values, duration and days billings Y/Y outstanding Q4'10 Y/Y Chg 2010 Chg ------------------ ----- ------- ---- ---- Q4'11 2011 ----- ---- Billings metrics: ----------------- Total billings $116.0 $111.2 4% $362.9 $347.0 5% --------- ------ ------ --- ------ ------ --- Billings to end- user customers $114.8 $109.4 5% $359.4 $336.3 7% ---------- ------ ------ --- ------ ------ --- Renewal billings to end- user customers $82.0 $76.8 7% $256.3 $238.6 7% ---------- ----- ----- --- ------ ------ --- Incremental billings(3)to end- user customers $32.8 $32.6 1% $103.1 $97.7 6% ---------------- ----- ----- --- ------ ----- --- Billings to OEMs $1.2 $1.8 -33% $3.5 $10.7 -67% --------- ---- ---- --- ---- ----- --- U.S. billings to end- user customers $51.3 $51.5 0% $171.1 $163.5 5% ---------- ----- ----- --- ------ ------ --- International billings to end- user customers $63.5 $57.9 10% $188.3 $172.8 9% ------------- ----- ----- --- ------ ------ --- TRITON solution billings(4) $68.3 $50.8 34% $192.4 $135.4 42% ------------ ----- ----- --- ------ ------ --- Appliance billings $8.6 $7.0 23% $28.6 $20.5 40% --------- ---- ---- --- ----- ----- --- Number of transactions >$100K 205 184 11% 563 508 11% ------------- --- --- --- --- --- --- Average annualized contract value $12,800 $11,200 14% $10,900 $9,300 17% ----------- ------- ------- --- ------- ------ --- Average contract duration (months) 24.2 24.6 -2% 23.7 23.5 1% --------- ---- ---- --- ---- ---- --- Days billings outstanding (DSOs) 62 67 -5 days - ------------ --- --- ------- --- Exchange rates used in FX-neutral calculations: ----------------------------------------------- Euro $1.36 $1.33 2% - ---- ----- ----- --- --- Pound Sterling $1.57 $1.57 0% - --------- ----- ----- --- --- Balance sheet metrics: ----------------------- Cash and cash equivalents $76.2 $77.4 -2% - ------------ ----- ----- --- --- Balance on revolving credit facility $73.0 $67.0 9% - ---------- ----- ----- --- --- Share repurchases ($) $25.0 $25.0 0% $100.0 $85.0 18% ------------ ----- ----- --- ------ ----- --- Shares repurchased (shares) 1.4 1.2 17% 4.8 4.1 17% ------------ --- --- --- --- --- ---

1. A detailed description of the company's non-GAAP financial measures appears under "Non-GAAP Financial Measures" and a full reconciliation of GAAP to non-GAAP results is included at the end of this news release in the tables "Reconciliation of GAAP to Non-GAAP Financial Measures." 2. The company discontinued reporting non-GAAP revenues in 2011 because the difference between GAAP and non-GAAP revenues was no longer significant. Non-GAAP revenues are provided for 2010 for purposes of historical comparison. Non-GAAP revenues of $86.6 million in the fourth quarter of 2010 included approximately $0.2 million of SurfControl revenue that would have been recognized during the fourth quarter of 2010 had SurfControl remained an independent operating company reporting under GAAP. Non-GAAP revenues of $337.0 million in 2010 included approximately $4.2 million of SurfControl revenue that would have been recognized during 2010 had SurfControl remained an independent operating company reporting under GAAP. This subscription revenue was included in SurfControl's deferred revenue as of the date of the acquisition, but was not recognized as revenue on a post-acquisition basis under GAAP due to the required write-down of SurfControl's deferred revenue to fair value as of the acquisition date. 3. Incremental billings include upgrades to new products purchased by existing/renewing customers (i.e., data security, cloud-based security, and the incremental portion of TRITON gateway family migrations) and new customer billings, regardless of product. 4. TRITON solutions include the TRITON family of security gateways for web, email and data security (including related appliances and technical support subscriptions), Websense' Data Security Suite and cloud-based security solutions. Non-TRITON solutions include web filtering products, including Websense Web Filtering, Websense Web Security Suite and related appliances, plus SurfControl email security products.

As described above, on January 1, 2011, Websense was required to adopt Accounting Standards Update 2009-13 (Multiple Deliverable Revenue Arrangements) and Accounting Standards Update 2009-14 (Certain Revenue Arrangements that Include Software Elements), which require immediate recognition of hardware revenues upon sale. Also effective January 1, 2011, the company restructured its international distribution operations, which is expected to reduce the complexity and compliance risks associated with the company's global distribution activities, and the company changed its policy for determining the estimated non-GAAP effective tax rate to include estimated tax benefits associated with stock-based compensation programs. The combination of the estimated tax impact associated with the international distribution restructuring and the change in the policy for determining the estimated non-GAAP effective tax rate reduced the company's estimated annual non-GAAP effective tax rate from approximately 32.0 percent in 2010 to 18.5 percent for 2011.

Fourth quarter and fiscal year 2011 non-GAAP net income was correspondingly impacted by the required changes in revenue recognition policy and the company's new estimated non-GAAP effective tax rate. Compared with the fourth quarter of 2010, the policy change in appliance revenue recognition and the decrease in the estimated non-GAAP effective tax rate increased non-GAAP earnings per diluted share by approximately 12 cents. Compared with fiscal year 2010, the policy change in appliance revenue recognition and the decrease in the estimated non-GAAP effective tax rate increased non-GAAP earnings per diluted share by approximately 45 cents. The impact of accounting and policy changes on our 2011 results is described more fully in the "2011 Policy Changes" section of this release.

Outlook for the First Quarter and Fiscal Year 2012

Websense provides guidance on anticipated financial performance for the first quarter and the year based on an assessment of the current business environment, historical seasonal business trends, and prevailing exchange rates between the U.S. dollar and other major currencies. Annual guidance is updated each quarter with the release of quarterly results. In providing guidance, the company emphasizes that all forward-looking statements are based on current expectations, including average contract duration between 23 and 24 months and prevailing currency exchange rates of $1.30 for the Euro and $1.55 for the Pound Sterling. The company disclaims any obligation to update the statements as circumstances change.

Millions, except percentages and per share amounts Q1'12 Outlook 2012 Outlook -------------------------------- ------------- ------------ Total Billings $76 - 81 $373 - 393 -------------- -------- ---------- Appliance billings (% of total billings) 7 - 9% 7 - 8% ------------------------------ ------ ------ Revenues $88 - 91 $364 - 374 -------- -------- ---------- Non-GAAP gross profit margin 84 - 85% 84 - 85% ---------------------------- -------- -------- Non-GAAP operating margin 17 - 19% 19 - 21% ------------------------- -------- -------- Non-GAAP earnings per diluted share $0.30 - $0.34 $1.50 - 1.65 ----------------------------- ------------- ------------ Non-GAAP effective tax rate 19% 19% --------------------------- --- --- Average diluted shares outstanding 38 - 38.5 37 - 38 ---------------------- --------- ------- Cash flow from operations $20 - 23 $72 - 82 ------------------------- -------- -------- Capital expenditures $3.0 - 3.5 $12 - 14 -------------------- ---------- --------

Management further indicates that guidance ranges reflect:

-- Non-cash items in 2012 related to the recognition of revenue and costs associated with pre-2011 appliance billings: o Deferred revenue of $8.6 million from pre-2011 appliance billings (as of December 31, 2011) will continue to be recognized ratably according to the original subscription periods, including $1.7 million to be recognized in the first quarter of 2012 (a decrease of $1.8 million compared with the first quarter of 2011) and $5.9 million to be recognized for the year (a decrease of $5.5 million compared with 2011). o Deferred costs of $4.0 million from pre-2011 appliance billings (as of December 31, 2011) will continue to be recognized ratably according to the original subscription periods, including $0.8 million to be recognized in the first quarter of 2012 (a decrease of $0.8 million compared with the first quarter of 2011) and $2.6 million to be recognized for the year (a decrease of $2.6 million compared with 2011). -- Revenue from OEM arrangements is expected to decline approximately $5.3 million in 2012 compared with 2011, reflecting the company's planned discontinuation of non-strategic OEM relationships beginning in 2009. -- Billings operating margin, which is calculated like non-GAAP operating margin, but on billings instead of revenue, is expected to be 22% to 25% in 2012. Billings margin calculations match current period sales activities with current period costs, and therefore exclude non-current items such as deferred appliance revenues and costs.

2011 Policy Changes

The company's fourth quarter and 2011 results and future outlook reflect the following changes in policy and accounting standards, effective January 1, 2011:

-- Adoption of ASU 2009-13, Revenue Arrangements with Multiple Deliverables, and ASU 2009-14, Certain Revenue Arrangements that Contain Software Elements -------------------------------------------------------- Websense was required to implement new revenue recognition rules under which revenue for sales of appliances and the related costs are recognized when sold and all other revenue recognition criteria are met. In general, this means Websense is no longer amortizing the revenue and costs for appliance sales booked after January 1, 2011 over the software subscription period. Adoption of the new rules does not change recognition of subscription software revenue or the way billings are reported. The adoption of these rules, compared with the previous method of ratable appliance revenue and cost recognition, is expected to increase the seasonality and variability in revenue and net income in any given quarter.

The new rules were not adopted retroactively and approximately $20 million in deferred revenue and approximately $9.2 million in deferred costs associated with pre-2011 appliance sales will be recognized ratably over the remaining subscription terms. For 2011, revenues, GAAP net income and non-GAAP net income included approximately $11.4 million in revenues (of which $2.1 million was recognized in the fourth quarter of 2011) and $5.2 million in costs (of which $1.0 million was recognized in the fourth quarter of 2011) associated with pre-2011 appliance sales, as well as revenues and costs associated with 2011 appliance billings. The schedules below summarize the recognition of deferred appliance revenues and costs by quarter for 2011 and the expected recognition of deferred appliance revenues and costs by quarter for 2012

2011 Summary of Amounts Related to pre-2011 Appliance Sales ------------------------------------------- Remaining Deferred deferred Millions balances 2011 Recognition Schedule (actual) balances as of as of 12/31/10 ---------------------------------- 12/31/11

Q1'11 Q2'11 Q3'11 Q4'11 2011 ----- ----- ----- ----- ----

Revenue $20.0 $3.5 $3.2 $2.6 $2.1 $11.4 $8.6 ------- ----- ---- ---- ---- ---- ----- ---- Costs $9.2 $1.6 $1.5 $1.1 $1.0 $5.2 $4.0 ----- ---- ---- ---- ---- ---- ---- ----

2012 Summary of Amounts Related to pre-2011 Appliance Sales ------------------------------------------- Remaining Deferred deferred Millions balances 2012 Recognition Schedule (expected) balances as of as of 12/31/12 12/31/11 ------------------------------------ (expected) (actual) Q1'12 Q2'12 Q3'12 Q4'12 2012 ----- ----- ----- ----- ---- Revenue $8.6 $1.7 $1.6 $1.4 $1.2 $5.9 $2.7 ------- ---- ---- ---- ---- ---- ---- ---- Costs $4.0 $0.8 $0.7 $0.6 $0.5 $2.6 $1.4 ----- ---- ---- ---- ---- ---- ---- ----

Guidance ranges for 2012 billings and revenues assume that 2012 appliance billings will represent approximately seven to nine percent of total 2012 billings and will be recognized as revenues immediately, as required by ASU 2009-13 and ASU 2009- 14. Based on the guidance range for billings and recognition of $5.9 million in appliance revenues from pre-2011 appliance sales, appliance revenues are expected to account for approximately 10 percent of 2012 total revenues.

-- International Distribution Restructuring ----------------------------------------------- Effective January 1, 2011, the company restructured its international distribution operations to reduce the complexity and compliance risks associated with its global distribution activities. The new structure also was expected to reduce the company's estimated long-term non-GAAP effective tax rate by approximately six percentage points. The resulting decrease in the estimated non-GAAP effective tax rate for 2011 was expected to increase the company's non-GAAP earnings per diluted share by approximately 12 cents, compared with 2010.

-- Change in Policy Used to Determine the Estimated Non- GAAP Effective Tax Rate''''' ------------------------------------------------------------ Beginning with the first quarter of 2011, the company's estimated non-GAAP tax rate reflects estimated tax benefits from the company's equity-based compensation plans and other tax deductible amortization. These benefits have the effect of reducing the company's cash tax obligations, and by including the estimated tax benefits in the determination of the estimated non-GAAP effective tax rate, the company's estimated non-GAAP tax provision is expected to more closely reflect the company's cash tax obligations over time. However, the company will continue to exclude share-based compensation expense and tax deductible amortization from operating expenses when reporting non-GAAP net income and non-GAAP earnings per fully diluted shares. This policy was expected to reduce the 2011 estimated non-GAAP effective tax rate by approximately six percentage points and increase non-GAAP earnings per diluted share by approximately 11 cents, compared with 2010. Commencing in 2012, the company anticipates that its non-GAAP effective tax rate will remain fixed at 19 percent, and the company will no longer update the non-GAAP effective tax rate or guidance for variations in any quarter.

Conference Call Details

Management will host a conference call and simultaneous webcast to discuss the financial results and outlook today, January 31, at 2 p.m. Pacific Standard Time. To participate in the conference call, investors should dial (866) 757-5630 (domestic) or 707-287-9356 (international) 10 minutes prior to the scheduled start of the call. A simultaneous audio-only webcast of the call may be accessed on the Internet at www.websense.com/investors. An archive of the webcast will be available on the company's website through March 31, 2012, and a recorded replay of the call will be available for one week at 855-859-2056 or 404-537-3406, pass code 38543765.

Non-GAAP Financial Measures

This news release provides financial measures for the fourth quarter and fiscal year 2010, including measures for revenues, gross profit, income from operations, provision for income taxes, net income and earnings per diluted share, that include revenues from SurfControl that would have been recognized during the respective periods of 2010 under subscriptions that were included in deferred revenue as of the date of the acquisition. These revenues are not recognized on a post-acquisition basis under GAAP due to the write-down of SurfControl's deferred revenue to fair value as of the acquisition date. In 2011, these adjustments were no longer significant, and revenues for the fourth quarter and fiscal year 2011 were not adjusted for SurfControl. In addition, non-GAAP operating results for 2011, 2010 and the fourth quarters of both years excluded share-based compensation expense and certain non-cash expenses relating to the company's acquisitions, primarily amortization of intangible assets and deferred financing fees.

For 2011, the company's estimated non-GAAP effective tax rate was calculated by dividing the company's estimated non-GAAP tax provision by its non-GAAP taxable income. The company's estimated non-GAAP taxable income was determined by adjusting its GAAP taxable income for its non-GAAP adjustments on a country-by-country basis. The company determined its estimated non-GAAP tax provision by adding together the estimated non-GAAP tax expense for each country based on each country's estimated applicable long-term tax rate. For 2011, this resulted in a non-GAAP effective tax rate of 18.5%. The impact of the 2011 international distribution restructuring is fully reflected in the company's international operations and tax structure, and commencing in 2012, the company expects that the non-GAAP effective tax rate will remain fixed at 19 percent, which is expected to more closely reflect the company's cash tax obligations over time.

For the fourth quarter and fiscal year 2011, the company's estimated non-GAAP effective tax rate included the effect of the estimated tax benefits the company received from equity-based compensation programs and tax deductible amortization. The company's estimated non-GAAP effective tax rate for 2010 excluded these tax benefits as this was the manner in which the company originally reported its 2010 estimated non-GAAP effective tax rate and non-GAAP net income. As described above, the non-GAAP effective tax rate for 2011 and all subsequent periods includes the related estimated tax benefits on the company's estimated non-GAAP effective tax rate, and therefore the company's non-GAAP net income.

Based on the foregoing, the company's presentation of non-GAAP revenues, gross profit, operating expenses, income from operations, provision for income taxes, net income, and earnings per diluted share are not calculated in accordance with GAAP. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding 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. Reconciliations of the GAAP and non-GAAP financial measures for 2011, 2010 and the fourth quarters of both years, as well as a more detailed explanation of each non-GAAP financial measure and its uses, are provided at the end of this news release.

This news release also includes financial measures for various categories of billings and other billings-related measures that are not numerical measures that can be calculated in accordance with GAAP. Websense provides these measurements in reporting financial performance because these measurements provide a consistent basis for understanding the company's sales activities in the current period. The company believes these measurements are useful to investors because the GAAP measurements of revenues and deferred revenue in the current period include subscription contracts commenced in prior periods. The roll forward of deferred revenue (which includes billings and revenues) for the fourth quarter of 2011 is set forth at the end of this news release.

About Websense, Inc.

Websense, Inc. (NASDAQ: WBSN), a global leader in unified web security, email security, and data loss prevention (DLP) solutions, 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 software, appliance and Security-as-a-Service (SaaS), Websense content security solutions help organizations leverage web 2.0 and cloud communication, collaboration, and social media while protecting from advanced persistent threats, 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



Currently we allow the following HTML tags in comments:

Single tags

These tags can be used alone and don't need an ending tag.

<br> Defines a single line break

<hr> Defines a horizontal line

Matching tags

These require an ending tag - e.g. <i>italic text</i>

<a> Defines an anchor

<b> Defines bold text

<big> Defines big text

<blockquote> Defines a long quotation

<caption> Defines a table caption

<cite> Defines a citation

<code> Defines computer code text

<em> Defines emphasized text

<fieldset> Defines a border around elements in a form

<h1> This is heading 1

<h2> This is heading 2

<h3> This is heading 3

<h4> This is heading 4

<h5> This is heading 5

<h6> This is heading 6

<i> Defines italic text

<p> Defines a paragraph

<pre> Defines preformatted text

<q> Defines a short quotation

<samp> Defines sample computer code text

<small> Defines small text

<span> Defines a section in a document

<s> Defines strikethrough text

<strike> Defines strikethrough text

<strong> Defines strong text

<sub> Defines subscripted text

<sup> Defines superscripted text

<u> Defines underlined text

Dark Reading encourages readers to engage in spirited, healthy debate, including taking us to task. However, Dark Reading moderates all comments posted to our site, and reserves the right to modify or remove any content that it determines to be derogatory, offensive, inflammatory, vulgar, irrelevant/off-topic, racist or obvious marketing/SPAM. Dark Reading further reserves the right to disable the profile of any commenter participating in said activities.

Disqus Tips To upload an avatar photo, first complete your Disqus profile. | View the list of supported HTML tags you can use to style comments. | Please read our commenting policy.
Subscribe to RSS



Vulnerability Management Reports

report Choosing the Right Vulnerability Scanner for Your Organization
Vulnerability scanners can be used to help detect and fix systemic problems in an organization's security program and monitor the effectiveness of security controls. However, a vulnerability scanner can improve the organization?s security posture only when it is used as part of a vulnerability management program, in which products, processes and people are working together to find, identify, prioritize and mitigate threats. Here are some tips on choosing and implementing vulnerability scanners in your enterprise.

report Using Google to Find Vulnerabilities In Your IT Environment
Attackers are increasingly using a simple method for finding flaws in websites and applications: they Google them. Using Google code search, hackers can identify crucial vulnerabilities in application code strings, providing the entry point they need to break through application security. Sound scary? It is, but there is good news: You can use these same methods to find flaws before the bad guys do. In this special report, we outline methods for using search engines such as Google and Bing to identify vulnerabilities in your applications, systems and services--and to fix them before they can be exploited.

report Security Pro's Guide to Patch Management
It's no longer sufficient to patch just Windows, Office and IE. With the massive array of applications now residing on enterprise PCs, and the proliferation of mobile and cloud-based applications, your business is far too vulnerable to exploitation unless you have a solid strategy for patch prioritization, deployment and quality assurance. Follow these steps to put your plan in place.

Other reports from the Vulnerability Management Tech Center:




Featured Webcasts
Featured Whitepapers
Featured Reports