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Zix Corporation Hits High End of Financial Guidance as Company Announces Third Quarter 2009 Financial Results
Date:10/27/2009

milestone of profitability. I believe ZixCorp has transitioned to a new phase in its development as a business and should thrive as it continues to deliver improved financial results. While we are making progress in our previously-announced assessment of strategic alternatives for our e-Prescribing business, we remain committed to executing our existing contracts and providing quality services to our customers, and I'm pleased to see continued strong usage of this life-saving and cost-reducing technology by our prescribers, as evidenced by the 16 percent increase in the script volume compared with the same period in 2008."

Corporate Highlights

  • Company-wide third quarter 2009 revenue of $7.8 million is up 17 percent over the comparable period in 2008, meeting the high end of previously-issued revenue guidance of $7.5 to $7.8 million
  • Cash and cash equivalents at September 30, 2009, were $12.4 million compared with $12.5 million at the end of the second quarter of 2009 and $13.2 million at December 31, 2008. Cash and cash equivalents remain below the December 31, 2008, level, primarily because of certain non-recurring cash items in the quarter and a slow-down in customer payments
  • ZixCorp welcomed the Company's founder, successful entrepreneur David P. Cook, back to its Board of Directors

Business Highlights

Email Encryption

  • Email Encryption revenue for third quarter 2009 was $6.7 million, up 20 percent when compared with the same quarter in 2008
  • New first-year orders were $1.3 million, a 12 percent increase over the same period in 2008. Total orders for the quarter were $6.5 million, up 25 percent when compared the same period of 2008
  • ZixCorp reported a contract renewal of 91 percent for the quarter
  • Through its partnership with Dell Inc., ZixCorp began providing email encryption services to customers of Dell's Email Management S
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SOURCE Zix Corporation
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