Entrust Achieves Breakeven Goal for Fourth Quarter 2003
- Revenues increased to $23.7 million - an increase of 18% from Q3, 2003
- Services revenues reached a two-year high due to strong demand for the
company's architecture and deployment services with record support and
maintenance revenue
- GAAP earnings of $.00 per share - versus a loss of $0.14 per share in
Q3, 2003 and a loss of $.07 per share in Q4, 2002
- Balance Sheet - $105 million in cash and marketable securities, with
no debt
DALLAS, Jan. 27 /PRNewswire-FirstCall/ -- Entrust, Inc.(NASDAQ-NMS:ENTU) (Nasdaq: ENTU), a world leader in securing digital identities and information, today announced financial results for its fiscal quarter ended December 31, 2003.
Entrust recorded a Q4, 2003 net profit of $60 thousand, or $0.00 per share, compared to a Q3, 2003 net loss of $9.0 million, or $0.14 per share, and a Q4, 2002 net loss of $4.6 million, or $0.07 per share. Revenues were $23.7 million in Q4, 2003, compared to $20.0 million in Q3, 2003 and $24.7 million in Q4, 2002. The company also reported cash and marketable investments of $105 million, with no debt.
"I am pleased with our revenue growth and our ability to achieve our goal of breakeven," said Bill Conner, Entrust chairman, president and chief executive officer. "The team's execution on delivering new products that drove revenue growth, while managing costs, were key factors in our return to profitability. With these underpinnings in place, we are positioned to grow revenue and increase profits in 2004."
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