eEye Digital Security Closes Second Quarter 2011 with 70% in New Business Revenue Growth
Company Continues Intense Research and Development Investment and Remains Operationally Cash Flow Positive at a Rate Greater than Industry Peers.
Phoenix, AZ (PRWEB) September 02, 2011
eEye Digital Security, a provider of IT security and unified vulnerability management solutions, today announced that the Company closed its most recent quarter with a 70% increase in new business revenue over the same period in 2010, resulting in its best first half in a decade.
Throughout 2011, eEye has committed to investing in Research and Development, with a focus on expanding the market leadership of its award-winning Retina vulnerability management solution suite. In this regard, the Company increased Research and Development investment by approximately 280% in the last two years. Even with these investments, the Company has remained operationally cash flow positive.
Ã¢Å“We continue to see the IT security market responding very positively to the technology advancements weÃ¢ve offered thus far in 2011,Ã¢ said Kevin Hickey, CEO, eEye. Ã¢Å“In particular, the strong increase in new business revenue points to the fact that our solutions are meeting the complex needs of enterprises facing unprecedented challenges in vulnerability and compliance management. Also, the fact that weÃ¢ve been able to make crucial R&D investments, while maintaining the highest level of profitability in the companyÃ¢s history, is a testament to the continued strength of our business. Ã¢
A key milestone of eEyeÃ¢s recent quarter was the release of Retina Community, a free vulnerability scanner that identifies vulnerabilities (including zero-day flaws), configuration issues, and missing patches across operating systems, applications, devices, and virtual environments. The tool has been downloaded by hundreds of thousands of IT security professionals since April 2011.
Building on this strategy, the Company will soon release a free version of its Retina CS management console, which will offer automated, centralized application patching for Microsoft applications, Mozilla/Firefox, and AdobeÃ¢s Distiller, Elements, Reader, Flash, and Shockwave. This will be the first time that the IT security industry has seen such a robust combination of vulnerability scanning and remediation provided as a free, community offering.
Additionally, the company continues to grow and is actively hiring across all organizations. Get more information about eEye careers.
About eEye Digital Security
Since 1998, eEye Digital Security has made vulnerability and compliance management simpler and more efficient by providing the only unified solution that integrates assessment, mitigation, protection, and reporting into a complete offering with optional add-on modules for configuration compliance, regulatory reporting, and integrated patch management. eEyeÃ¢s world-renowned research and development team is consistently the first to uncover critical vulnerabilities, prevent their exploit, and build new protections into our solutions. Thousands of mid-to-large-size private-sector and government organizations, including the two largest vulnerability management installations in the world, rely on eEye to protect against the latest known and zero-day vulnerabilities. More at eeye.com.
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