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Enterasys Achieves Profitable Revenue Growth in Q3 2007
(Market Wire Via Thomson Dialog NewsEdge) ANDOVER, MA, October 31 / MARKET WIRE/ --
Enterasys Networks Inc., the Secure Networks
Company(TM), today announced financial results for the fiscal third quarter
ended September 29, 2007. The company continued its positive momentum as
customers, partners and prospects invested in Secure Networks hardware,
software and services to protect the confidentiality, integrity,
availability and performance of IT services and the business users that
rely on them. Third quarter revenue increased nearly 17% sequentially and
more than 10% over the same period in 2006, while gross margins remained
strong at greater than 50%.
Enterasys has now posted nine consecutive quarters of pro-forma operating
profitability. These results do not reflect any purchase accounting
adjustments that may be applied related to the Company's acquisition in
March 2006 by a group of private investors led by The Gores Group, LLC, and
Tennenbaum Capital Partners, LLC.
"Networks are the foundation of optimized business processes that leverage
interactive voice, video and data communications," said Mike Fabiaschi,
President and CEO of Enterasys Networks. "Enterasys delivers the power of
information with the strength of security. Our unique role is making the
security and priority of convergence, compliance and connectivity
applications easy, mobile and adaptive as we embed the granular visibility
and control of users, applications and networked devices in everything we
do."
New customers in APAC included:
-- Education - University of New England
-- Government - Guangzhou Science Exhibition Center
-- Manufacturing - Daewoo Construction
-- Pharmaceutical - Kwang Dong
-- Transportation - Korail
New customers in the CALA region included:
-- Finance - Corretora Arkhe
-- Entertainment - VELOPARK
-- Government - Ministrio Pblico do Estado do Rio de Janeiro
-- Government - Sebrae
-- Healthcare - Unimed Vitria
New customers in the EMEA region included:
-- Government - Department of Justice of the State Brandenburg
-- Government - Turkish Republic Parliament (TCBMM)
-- Government - Ministry of Finance of Ukraine
-- Finance - German Insurance Association (GDV)
-- Manufacturing - Erhardt+Liemer
-- Pharmaceutical - Bayer
New customers in North America included:
-- Entertainment - Los Angeles Lakers
-- Healthcare - Cochlear
-- Manufacturing - Chrysler Mexico
-- Telecommunications - Verizon Business
-- Transportation - Kelowna Flight Craft
Highlights for the third quarter of 2007 include:
-- Overall LAN switching revenue rose 21% both sequentially and on a year
over year basis. Total port shipments increased 18% over Q2 2007 and 6%
over the year ago period.
-- Triple-speed Power over Ethernet (PoE) shipments increased 50%
sequentially and nearly 300% from a year ago as Enterasys continues to be
deployed in conjunction with IP telephony (VoIP) solutions from 3Com,
Alcatel, Asterisk, Avaya, Cisco, Mitel, NEC (Sphere), Nortel, Panasonic,
Polycom, ShoreTel, and Siemens.
-- 10 Gigabit Ethernet (10 GbE) port shipments on the Matrix N-Series
more than doubled from the year ago period while overall modular Layer 3
switching revenue increased 23%.
-- 10 GbE port shipments for the Matrix X-Series secure core router more
than doubled from Q2 2007 while sequential revenue growth exceeded 50%.
-- Fixed Layer 3 switch revenue, including the SecureStack(TM) C-Series and
the new SecureSwitch(TM) I-Series industrial Ethernet offering, rose 35% on
a year over year basis, while port shipments were up nearly 30%.
-- Fixed Layer 2 switching revenue, led by the SecureStack A-Series and
SecureStack B-Series edge switches, increased 16% sequentially while port
shipments rose 12%.
-- License shipments doubled sequentially and year over year for
NetSight and Enterasys Network Access Control (NAC) software solutions
for security, visibility and control.
-- RoamAbout wireless product revenue increased greater than 18%
sequentially.
-- Revenues of the Enterasys Dragon Security Command Console (DSCC)
security information and event management (SIEM) solution increased more
than 80% compared to the year ago quarter.
-- Enterasys delivered a comprehensive approach to secure IP Telephony (VoIP) solutions from leading
voice vendors and NetSight 3.0 management software, while also
announcing customer success stories from Ireland's Hermitage Medical Clinic, Massport, TBWA and Umass Medical School.
-- Increased demand generation through face-to-face interaction with
prospects at events where Enterasys demonstrates the practical, achievable,
rapid time to value of Secure Networks solutions for convergence,
connectivity and compliance.
-- The addition of more than 150 new customers, bringing the total for the
past six quarters to more than 1,000.
About Enterasys Networks
Enterasys Networks -- the Secure Networks Company -- is owned by a private
investor group led by The Gores Group, LLC and Tennenbaum Capital Partners,
LLC. Enterasys' unique Secure Networks solutions secure any network to
ensure the confidentiality, integrity, availability and performance of IT
services and the business users that rely on them. Thousands of leading
companies, government agencies and educational institutions in more than 70
countries rely on Secure Networks solutions to maintain business continuity
and protect vital information. The company's culture is centered on the
principle "There is nothing more important than our customers." Delivering
on that commitment, Secure Networks provides granular, policy-based command
and control of individual user, application, device, port and flow
performance, and security. Enterasys' architectural approach to network
security offers a long technology lifecycle and significant operational and
business benefits, while reducing total cost of ownership. Information
about Enterasys' award-winning policy-enabled switches, routers, wireless
products, security software, and services is available at
www.enterasys.com.
About The Gores Group
Founded in 1987, The Gores Group is a private equity firm focused on
acquiring controlling interests in mature and growing businesses which can
benefit from the firm's operating experience and flexible capital base.
The firm combines the operational expertise and detailed due diligence
capabilities of a strategic buyer with the seasoned M&A team of a
traditional financial buyer. The Gores Group has become a leading
investor, primarily in the technology and telecommunications sectors,
having demonstrated over time a reliable track record of creating
substantial value in its portfolio companies alongside management.
Headquartered in Los Angeles, California, The Gores Group maintains offices
in Boulder, Colorado and London. For more information, please visit
www.gores.com.
About Tennenbaum Capital Partners, LLC
Tennenbaum Capital Partners is a Santa Monica, California-based private
investment firm managing over $3.8 billion in assets through private funds.
The firm's investment strategy is grounded in a long-term, value approach,
and it assists -- both financially and operationally -- transitional
middle-market companies in such industries as technology, healthcare,
energy, aerospace, business services, retail and general manufacturing.
Tennenbaum's core strengths include its in-depth knowledge of equity and
debt-financing vehicles in the public and private markets, as well as a
thorough understanding of special situations. For more information, please
visit www.tennenbaumcapital.com.
Contact:
Trent Waterhouse
Enterasys Networks
+1 978 684 1506trent@enterasys.com
Jackie Abramian
BridgeView Marketing
+1 617 584 2580jackie@bridgeviewmarketing.com
Copyright 2007 Market Wire, Incorporated
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