San Diego Business Journal

Websense Earns $8.5M in Third Quarter

Thursday, October 25, 2012

Websense Inc., the San Diego maker of Internet security software, reported third quarter net income of $8.5 million, up from $8.1 million in the third quarter of 2011.

Revenue for the quarter was $90.4 million, compared with $92.1 million for the like quarter last year.

For the nine months ended Sept. 30, Websense did $269.7 million in revenue, compared with $271.4 million for the first nine months of 2011.

Net income for the nine months was $14.5 million, down from the prior year’s nine months net income of $20.6 million.

CEO Gene Hodges said while the company’s customer retention rates remain solid, it’s been negatively impacted by fewer upgrades from domestic customers.

“The need and awareness for content security is increasing, and security experts recognize we have the best solutions to protect against data theft and advanced attacks,” Hodges said.

Shares of the company, traded on the Nasdaq under the ticker WBSN, closed down $1.71 to a new 52-week low of $13.41. The high over the past year was $22.15.