Stock Exchange Release
STONEGATE SALES REMAINED BELOW ESTIMATES DURING THE SECOND QUARTER
The company has earlier stated that it believes that the sales of StoneGate™ products will grow on annual level faster than the estimated average 10 % annual growth of firewall/VPN and intrusion detection and prevention market estimated by Infonetics. The growth may fluctuate during the fiscal quarters.
The seasonal variation of the sales of StoneGate™ products has shown to be greater than expected on second quarter and the sales of StoneGate™ products was 36 % lower comparing to the corresponding time in the previous year. The size of seasonal variation was mainly due to relatively high sales on the corresponding period last year. The sales on the second quarter (1.6 million euros) were clearly lower than expected partially due to new product release and some relatively large orders delayed into next quarter. The net sales of Stonesoft Corporation on the second quarter will remain lower than the net sales of corresponding period in the previous year.
Although the company is expecting the sales of StoneGate™ products to grow on the third and fourth quarter of the year comparing to last year, it is possible that earlier estimated growth to be faster than market growth for the whole year will not to be fulfilled because of the weak second quarter.
Stonesoft will issue its Interim results for the second quarter in August 3rd, 2006.
For more information:
CEO Ilkka Hiidenheimo, Stonesoft Corp.
Tel. +358 9 476 711
e-mail:
ilkka.hiidenheimo@stonesoft.com
CFO Mikael Nyberg, Stonesoft Corp.
Tel. +358 9 476 711
e-mail: mikael.Nyberg@stonesoft.com
Monday, July 3, 2006
