Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Risk

7/24/2009
09:55 AM
Dark Reading
Dark Reading
Products and Releases
50%
50%

SonicWALL Reports Second Quarter 2009 Financial Results

SonicWALL reported performance in the quarter ended June 30, 2009, with revenue of $48.6 million

SUNNYVALE, Calif., July 23 /PRNewswire-FirstCall/ -- SonicWALL, Inc. (Nasdaq: SNWL), today reported performance in the quarter ended June 30, 2009, with revenue of $48.6 million. The Company shipped 39,000 revenue units in the quarter. Cash flow from operations was $11.1 million. The company ended the quarter with cash, equivalents and total investments of $189 million, and deferred revenue of $111 million.

Net income for the second quarter of 2009 calculated in accordance with U.S. generally accepted accounting principles (GAAP) was $3.4 million, or $0.06 per diluted share. In comparison, GAAP net income for the second quarter of 2008 was $0.9 million, or $0.02 per diluted share.

Non-GAAP net income for the second quarter of 2009 was $5.4 million or $0.10 per diluted share. In comparison, non-GAAP net income for the second quarter of 2008 was $3.6 million, or $0.06 per diluted share. Non-GAAP net income excludes amortization of purchased intangible assets, restructuring charges, and share-based compensation expense primarily associated with the expensing of stock options in accordance with Financial Accounting Standards No. 123R (FAS 123R). An explanation of our use of non-GAAP measures is included in the section in this press release entitled "Use of Non-GAAP Financial Measures."

The Company reported second quarter non-GAAP operating margin of 16%. In comparison, non-GAAP operating margin for the second quarter of 2008 was 7%. Non-GAAP gross margin in the second quarter was 74%, compared to 71% in the second quarter of 2008.

"Our commitment to operational excellence has served us well," said Matt Medeiros, CEO of SonicWALL. "We have continually made strong improvements in profitability and business efficiency while simultaneously keeping our focus on delivering an expanded array of solutions that are more competitive and relevant to the market."

Guidance for Q3 2009

SonicWALL expects third quarter 2009 revenue to be in the range of $46 million to $49 million. The Company expects non-GAAP gross margin to be in the range of 72.5% to 73.5% of revenue. SonicWALL expects earnings per share in the third quarter of 2009 to be in the range of $0.08 to $0.09 per diluted share on a non-GAAP basis. On a GAAP basis, inclusive of a total of approximately $3.0 million, before taxes, in combined amortization of purchased intangibles assets, and share-based compensation expense, the Company expects earnings per share to be in the range of $0.05 to $0.06. Share-based compensation expense associated with the expensing of stock options is estimated to be approximately $2.0 million for the third quarter of 2009.

This is the only statement SonicWALL will be giving during the quarter with respect to guidance, unless a decision is made to provide an update.

Conference Call

A conference call to discuss second quarter 2009 results will take place today, July 23, 2009, at 2:00 p.m. PT (5:00 p.m. ET). SonicWALL President and CEO Matt Medeiros and SonicWALL CFO Rob Selvi will host the call. A web cast of the live call can be found at http://www.sonicwall.com/us/company/2518.html. A replay of the call will be available beginning at approximately 5:00 p.m. PT (8:00 p.m. ET) today at the Company's website or by telephone until 5:00 p.m. PT on July 27 at 888-203-1112 (toll-free) or 719-457-0820 (International), passcode 4662767.

About SonicWALL, Inc.

Founded in 1991, SonicWALL, Inc. designs, develops and manufactures comprehensive network security, email security, secure remote access, and continuous data protection solutions. For more information, contact SonicWALL at +1 (408) 745-9600 or visit the company web site at http://www.sonicwall.com/.

 

Recommended Reading:

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
COVID-19: Latest Security News & Commentary
Dark Reading Staff 7/13/2020
Omdia Research Launches Page on Dark Reading
Tim Wilson, Editor in Chief, Dark Reading 7/9/2020
Russian Cyber Gang 'Cosmic Lynx' Focuses on Email Fraud
Kelly Sheridan, Staff Editor, Dark Reading,  7/7/2020
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
Special Report: Computing's New Normal, a Dark Reading Perspective
This special report examines how IT security organizations have adapted to the "new normal" of computing and what the long-term effects will be. Read it and get a unique set of perspectives on issues ranging from new threats & vulnerabilities as a result of remote working to how enterprise security strategy will be affected long term.
Flash Poll
The Threat from the Internetand What Your Organization Can Do About It
The Threat from the Internetand What Your Organization Can Do About It
This report describes some of the latest attacks and threats emanating from the Internet, as well as advice and tips on how your organization can mitigate those threats before they affect your business. Download it today!
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2020-14300
PUBLISHED: 2020-07-13
The docker packages version docker-1.13.1-108.git4ef4b30.el7 as released for Red Hat Enterprise Linux 7 Extras via RHBA-2020:0053 (https://access.redhat.com/errata/RHBA-2020:0053) included an incorrect version of runc that was missing multiple bug and security fixes. One of the fixes regressed in th...
CVE-2020-14298
PUBLISHED: 2020-07-13
The version of docker as released for Red Hat Enterprise Linux 7 Extras via RHBA-2020:0053 advisory included an incorrect version of runc missing the fix for CVE-2019-5736, which was previously fixed via RHSA-2019:0304. This issue could allow a malicious or compromised container to compromise the co...
CVE-2020-15050
PUBLISHED: 2020-07-13
An issue was discovered in the Video Extension in Suprema BioStar 2 before 2.8.2. Remote attackers can read arbitrary files from the server via Directory Traversal.
CVE-2020-10987
PUBLISHED: 2020-07-13
The goform/setUsbUnload endpoint of Tenda AC15 AC1900 version 15.03.05.19 allows remote attackers to execute arbitrary system commands via the deviceName POST parameter.
CVE-2020-10988
PUBLISHED: 2020-07-13
A hard-coded telnet credential in the tenda_login binary of Tenda AC15 AC1900 version 15.03.05.19 allows unauthenticated remote attackers to start a telnetd service on the device.