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Zix Corporation Reports Highest Revenue Quarter as Company Announces First Quarter 2009 Financial Results
Date:4/28/2009

ers. Despite recording revenue in this business of about half of last year's amount, as described later in this release, I am encouraged by the growth in usage by our physicians, where we saw year-over-year growth in scripts written on essentially the same-sized active prescriber base. This trend, combined with the incorporation of e-prescribing as an essential element of healthcare IT in the recently-enacted federal stimulus package, reinforces our belief that e-prescribing is a fundamental technology on which a connected healthcare system can be built."

Corporate Highlights

  • Company-wide first quarter 2009 revenue of $7.3 million is up 1 percent over the comparable quarter in 2008, meeting the upper half of previously-issued revenue guidance of $7.1 to $7.4 million
  • Cash and cash equivalents at March 31, 2009 were $12.2 million, reflecting a timing difference in payments of $1.1 million from two long-time customers expected in Q1 but not received until the middle of April. Accordingly, the Company considers the temporary decline in cash a normal part of the payment and receipt cycle
  • Adjusted earnings (see "Use of Non-GAAP Financial Information" below and the attached Reconciliation of GAAP to Non-GAAP Financial Measures) were ($0.01), meeting previously issued guidance of ($0.01) to ($0.02)

Business Highlights

Email Encryption

  • Email Encryption revenue for first quarter 2009 was $6.2 million, up 18 percent when compared with the same quarter in 2008
  • New first-year orders of $1.1 million, compared with $1.4 million in the same quarter in 2008. Total orders for the quarter were $7.4 million, compared with $8.7 in the first quarter of 2008
  • ZixCorp maintained a strong renewal rate for eligible contracts at 95 percent
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SOURCE Zix Corporation
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