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Sourcefire, Inc., a world leader in intelligent cybersecurity solutions, is transforming the way Global 2000 organizations and government agencies manage and minimize network security risks. With solutions from the network to the endpoint, Sourcefire provides customers with Agile SecurityTM that is as dynamic as the real world it protects and the attackers against which it defends. Trusted for more than 10 years, Sourcefire has been consistently recognized for its innovation and industry leadership with dozens of patents, world-class research, and award-winning technology. Today, the name Sourcefire has grown synonymous with innovation, security intelligence and agile end-to-end security infrastructure.

Sourcefire Announces Record Revenue for Third Quarter 2011


Sourcefire, Inc. (Nasdaq:FIRE), a leader in intelligent cybersecurity solutions, announced financial results for its fiscal third quarter ended September 30, 2011.

"Our record quarterly revenue and adjusted net income were the result of broad based strength across our business. Our Commercial and International businesses continued their strong performance while our Federal business benefited from increased spending as the Federal Government closed out its fiscal year and made our solutions a funding priority,” said John Burris, CEO of Sourcefire. “With our Agile SecurityTM vision, which emphasizes the need for more informed, adaptive, and automated security, and the upcoming availability of our expanded solutions, we have the opportunity to take on an even larger role in our clients’ security infrastructure.”

Financial Summary

Total Revenue - Revenue for the third quarter of 2011 was $45.2 million compared to $36.2 million in the third quarter of 2010, an increase of 25%.
GAAP Net Income - Net income was $2.0 million for the third quarter of 2011, or $0.07 per diluted share, on the basis of generally accepted accounting principles (GAAP), compared with GAAP net income of $4.2 million, or $0.15 per diluted share, in the third quarter of 2010.
Adjusted Net Income - Adjusted net income for the third quarter of 2011, which excludes stock-based compensation expense, amortization of acquired intangible assets and other acquisition-related expenses, and includes an assumed tax rate of 35%, was $5.7 million, or $0.19 per diluted share. This compares to adjusted net income of $5.2 million, or $0.18 per diluted share, in the third quarter of 2010, which excludes stock-based compensation expense and assumes a tax rate of 35%.

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