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| [May 15, 2008] |
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CyberDefender Closes First Quarter 2008 with Material Sales Increase from Previous Quarter
LOS ANGELES --(Business Wire)-- CyberDefender Corporation (OTCBB:CYDE) today reported its financial results for the first fiscal quarter ended March 31, 2008. Revenues from new product sales increased 80% and combined revenues increased 25% from the previous quarter. During the first quarter, month over month revenue increased by an average of 67% per month. Following the re-formulation of its business model and the substantial expansion of Internet security offerings to its customers over the last several quarters, CyberDefender has started to see the fruits of this initiative.
The company has introduced new consumer security suites featuring antispyware, antivirus, identity protection, and technical support. Malware related attacks have increasingly targeted the collection of personal information for identity theft. As a result, CyberDefender introduced new security solutions aimed at protecting users' personal information before it results in a stolen or compromised identity including the release of a new security suite protecting users from malware and ID theft.
CyberDefender is one of the first companies in North America to offer a complete ID Theft Protection service with Antivirus / Antispyware. The CyberDefender Identity Protection Suite, which is selling from $9.95 to $29.95 per month, will be offered to the approximate one million CyberDefender users.
"I am very pleased with the results from this quarter. I believe that we can continue to grow by continuing to sign up new distributors and increasing sales. In addition, the company is in discussions with certain third party marketing firms to market the company's suites on a joint venture basis," said Gary Guseinov, CEO.
About CyberDefender Corporation (www.cyberdefender.com)
CyberDefender Corporation believes that its Internet security technology offers the earliest possible detection and most aggressive defense against Internet security attacks. CyberDefender believes that it is the only Internet security software company to combat spyware, viruses, phishing and dangerous spam by using a secure client-to-client distributed network, enabling protection that the company believes is unparalleled in speed and flexibility. Products employing the early detection technology include CyberDefender's safeSEARCH(TM) Toolbar, MyIdentityDefender(TM) toolbar, CyberDefenderFREE(TM) 2.0, CyberDefender Early Detection Center(TM) 2.0 and CyberDefender Early Detection Center FamilyPak Edition. All these products are fully compatible with Microsoft's Vista Operating system and available at http://www.cyberdefender.com.
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission, which are available for review at www.sec.gov.
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