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Vormetric Completes Fiscal 2011 With Record Revenue And Profits

Achieves eighth consecutive quarter of profitability
SAN JOSE, Calif. - May 4, 2011 - Vormetric, Inc., the leader in enterprise systems encryption and key management for physical, virtual and cloud environments, today announced record business results for its 2011 fiscal year. In the twelve months ended March 31, Vormetric more than doubled the number of systems protected and achieved its eighth consecutive quarter of operating profitability. Demand for the Company's solutions increased throughout the year, culminating with revenue growth of 96% and operating profit of 36% for the quarter ending 3/31/11. The world's leading retail, healthcare, semiconductor, high tech, outsourcers, governments and financial institutions, including seven of the Fortune 20, rely on Vormetric to protect their sensitive data and meet regulatory compliance requirements.

According to a recent report published by Forrester Research entitled The Evolution of IT Security, 2010 To 2011, 88 percent of firms are focusing their IT security investments on boosting their data security defenses. With the increasing migration and distribution of data from physical servers to virtual environments and cloud infrastructures, enterprises need to maintain the same security controls and audit capabilities used in their datacenters regardless of the location of sensitive and regulated information. Vormetric enables companies to encrypt any file, any database, any application, anywhere it resides- without sacrificing application performance or creating key management complexity.

"Our strong growth is due to rapidly increased market demand to broadly protect enterprise data and our unique ability to address that need for both structured and unstructured data in physical, virtual, and cloud environments", said Richard Gorman, president and CEO of Vormetric. "Customers choose Vormetric as their enterprise standard because we can meet all their encryption needs while ensuring top notch availability and performance are maintained. In addition, the introduction of Vormetric encryption for the Cloud has also developed significant traction. Virtually every organization we speak with is looking at ways to use the cloud as an extension of their datacenter, but security, especially for sensitive data, is one of the most pressing requirements to address for cloud initiatives."

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Kelly Jackson Higgins 2, Editor-in-Chief, Dark Reading