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Entrust Announces Financial Results for Fourth-Quarter and Fiscal 2008
Date:1/29/2009

DALLAS, Jan. 29 /PRNewswire-FirstCall/ -- Entrust, Inc. (Nasdaq: ENTU), a world leader in securing digital identities and information, today announced financial results for its fiscal quarter and year ended December 31, 2008.

Fourth-Quarter 2008

  • Total revenues of $24.9 million, a decrease of 7% over Q4 2007; total revenues were impacted by a strong U.S. dollar, and were $27.9 million, an increase of 5%, adjusting for currency
  • Product revenues of $10.2 million, an increase of 1% over Q4 2007; adjusted for currency was $11.6 million, an increase of 15% over Q4 2007
  • Deferred revenue increased to approximately $27.8 million, roughly flat to year-end 2007; adjusted for currency was $31.1 million, an increase of 11% over Q4 2007
  • Entrust recorded a net income for the quarter, calculated in accordance with GAAP, of $1.8 million, or $0.03 per share
  • Cash and Cash Equivalents increased to $24.3 million, an increase of $3.8 million over Q4 2007

Full-Year 2008

  • Entrust IdentityGuard and Entrust TransactionGuard combined for $9.3 million of product revenue, an increase of 70% year-over-year
  • SSL revenues were $9.6 million, an increase of 32% year-over-year
  • Subscription-based product revenue increased to $12.6 million, an increase of 22% year-over-year and accounted for 33% of product revenue
  • Subscription-based product bookings increased 48% to $17.5 million
  • Full-year non-GAAP cash flow from operations was $12.0 million, excluding the effects of the net change in accrued restructuring charges

Revenues for the fourth quarter were $24.9 million, a decrease of 7 percent
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SOURCE Entrust, Inc.
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