Websense Inc., the San Diego provider of Web filtering software for businesses, reported first quarter net income of $2.8 million compared with a net loss of $1.8 million for the like quarter of 2012.
Revenue for the quarter came in at $87.5 million, down from $89.5 million in the prior year’s first quarter.
CEO John McCormick said the company billings showed a 19 percent increase in transactions greater than $100,000 which demonstrate the strength of its core business and appeal to larger enterprise target customers.
Websense forecast second quarter revenue should be in a range of $86 million to $89 million, and its full year revenue should finish between $351 million to $361 million. Operating earnings per diluted share for the year was forecast from 78 to 93 cents.
The company also noted it would repurchase about $5 million of its stock in each quarter of this year.
— SDBJ Staff Report