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Secureworks Reports Record Third Quarter Fiscal 2019 Financial Results
Third Quarter Fiscal 2019 Highlights
Revenue grew 13.6 percent over fiscal 2018 to $133.1 million, including 51 percent growth year over year internationally.
Net loss of $0.05 per share and non-GAAP earnings per share of $0.06 were better than our expectations and Adjusted EBITDA was $8.6 million.
Cash provided by operating activities was $15.2 million.
ATLANTA, Ga, December 6, 2018 - Secureworks (NASDAQ: SCWX), a leading global cybersecurity company that protects organizations in the digitally connected world, today announced financial results for its third quarter ended November 2, 2018.
“We had a strong third quarter, with revenue growth of 13.6 percent and continued improvements in our operating leverage. I am pleased with our progress and remain excited about the significant opportunities for further growth and productivity enhancements as we continue executing against our objectives,” said Michael R. Cote, Chief Executive Officer of Secureworks.
“Amidst a constantly evolving threat landscape and increasingly complex technology ecosystems, we continue to bring intelligence-driven, software-enabled solutions to the market, delivering integrated visibility and effective security for our customers,” continued Mr. Cote.
Business and operational highlights for the third quarter of fiscal 2019 include:
International revenue increased 51 percent year over year.
Revenue in EMEA increased 47 percent over the prior year, with the company recently recognized by Forrester as a Leader in its Managed Security Services Providers, Europe report.1
Revenue in Asia/Pacific increased 65 percent year over year.
The company was recognized as a Leader in the IDC MarketScape: U.S. Incident Readiness, Response and Resiliency Services 2018 Vendor Assessment.2 The company continues to expand this important offering -- recently including it within its Managed Detection and Response (MDR) package -- and has performed over 1,000 incident response engagements over the last twelve months.
The company has added industry leaders CrowdStrike and Carbon Black to its Red Cloak Partner Program. The Program expands the scope of Secureworks' endpoint visibility so threats observed across different products and organizations can be transformed into effective threat intelligence and threat indicators that help detect adversaries across customers.
1 The Forrester Wave™: Managed Security Services Providers (MSSPs), Europe, Q4 2018, Forrester Research, Inc., 19 November 2018
2 IDC MarketScape: U.S. Incident Readiness, Response, and Resiliency Services 2018 Vendor Assessment - Beyond the Big 5 Consultancies, by Christina Richmond and Pete Lindstrom, September, 2018, IDC #US44257117
The following information was filed by Secureworks Corp (SCWX) on Thursday, December 6, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.