Business
Trading Update & Notice of Results
Trading Update & Notice of Results.
About this update from Corero Network Security Plc
[{"type":"text","content":"\n \nRNS Number : 6795J Corero Network Security PLC 04 July 2011 \n \n\n4 July 2011\n \nCorero Network Security plc (AIM: CNS)\n(\"Corero\" or \"the Group\")\n \nTrading update and Notice of results\n \nCorero Network Security plc, the AIM listed network security and business software provider, is pleased to provide an update on trading for the six months ended 30 June 2011. \n \nHighlights:\n \n· The Group has a healthy cash position of £5.2 million at 30 June 2011\n· Significant post acquisition progress in Corero Network Security\n· Strong year-over-year performance of Corero Business Systems\n \nCorero Network Security:\n \nCorero's acquisition of Top Layer Networks, Inc. (\"Top Layer\") closed on 2 March 2011. This marked the first step in the Company's strategy to build a network security technology business focused on delivering software and hardware solutions to mid-market commercial and enterprise customers and telecommunication service providers, through international channels. \n \nIn the period since the acquisition closed, a number of important milestones have been achieved:\n· Launch of DDoS Defence System ('DDS'), an industry first network-layer and application-\nlayer Distributed Denial of Service ('DDoS') defence product\n· Management team reshaped with the appointment of a General Manager and CFO, Vice \nPresident Engineering, and Chief Marketing Officer\n· Sales teams recruited in France (covering North Africa, Belgium, Luxembourg and France) \nand Taiwan (covering Taiwan, Hong Kong and China). Recruiting teams in Malaysia (to cover \nMalaysia, Indonesia, and Singapore), Germany (to cover Germany, Austria and Switzerland), \nand Spain (to cover Iberia and Latin America). In addition, the US sales team has been \nreshaped\n· The appointment of 20 new channel partners (compared to 40 existing active channel \npartners prior to the acquisition of Top Layer by Corero) \n· The rebranding of Top Layer to \"Corero Network Security\"\n \nCorero Network Security sales order intake in the period post the Top Layer acquisition was $5.0 million (£3.0 million), in li...