E-mail defense technology provider Commtouch Software Ltd. (Nasdaq: CTCH) today published its financial report for the second quarter of 2007. The company posted $2.6 million revenue, up 54% on the $1.7 million for the corresponding quarter. Deferred revenue at the end of June totaled $2.8 million, up 9% from the end of 2006.
Commtouch posted a GAAP net profit of $483,000 for the second quarter, compared with a loss of $114,000 for the corresponding quarter. Non-GAAP profit totaled $724,000, compared with $51,000 for the corresponding quarter. Operating cash totaled $428,000, almost triple the figure for the corresponding quarter.
The company had $12.1 million in cash and marketable securities at the end of June, $2 million than at the end of 2006. The company attributed the increase to its positive cash flow, and $1.1 million revenue from the exercise of options and warrants.
Commtouch signed eight new OEM licensing agreements during the second quarter and nineteen in the first half of the year, bringing the total number of OEM partners to 73.
Commtouch chairman and CEO Gideon Mantel said, “The second quarter was another strong quarter for us, exemplifying the continued positive momentum we have been enjoying for the last several years. The growing sophistication of online attacks creates a demand for the equally sophisticated security solutions that we offer. In expanding and leveraging both our technology as well as our market reach, we intend to release a new web security solution in early 2008. Our future products together with our current offerings should ensure our continued success going forward."
Published by Globes [online], Israel business news - www.globes.co.il - on August 2, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007