Deferred revenue increased in the quarter to approximately $27.8 million, roughly flat to year-end 2007 and an increase of 1 percent from Q3 2008. Deferred revenues adjusted for currency were $31.1 million, an increase of 11 percent from year-end 2007 and an increase of 13 percent from Q3 2008. Services accounted for approximately 59 percent ($14.7 million) of total revenue in the quarter, a decrease of 11 percent from $16.5 million in Q4 2007 and a decrease of 2 percent from $15.0 million in Q3 2008. Services revenues, adjusted for currency, were $16.3 million, a decrease of 1 percent over Q4 2007 and an increase of 9 percent over Q3 2008.
"Entrust concluded a successful 2008. We increased our earnings by $4.3 million, generated $12 million of cash flow (excluding restructuring charges), and increased our subscription based product bookings by 48 percent to $17.5 million," said Entrust President and Chief Executive Officer Bill Conner. "2008 was a very difficult selling environment. The continued success of our IdentityGuard and TransactionGuard products, which were up 70 percent; our subscription-based product revenues, which increased 22 percent; and our focus on cost containment in the business helped deliver our strong earnings and cash flow
|SOURCE Entrust, Inc.|
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