F-Secure revenues up 9% to US$50.7mn in Q2

Friday, July 29, 2011

Finnish security solutions provider F-Secure posted total revenues of 35.3mn euros (US$50.7mn) in the second quarter of 2011, up 9% from 32.3mn euros in the same period last year, the company said in a statement.

Revenues through operator business partners in Q2 totaled 20.3mn euros, representing 58% of F-Secure's total revenues.

"During Q2 we have continued to increase investments. Investments are targeted to project deliveries, service portfolio expansion and geographical entries - the major one being the Latin American market entry in the recent months," president and CEO Kimmo Alkio said.

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In the quarter, F-Secure entered in partnerships with Telefónica (NYSE: TEF) and several other operators in Latin America, which are expected to contribute gradually to revenue growth toward year-end, the company said.

Revenue growth for the year is estimated at around 10%.

F-Secure provides software as a service through operators, as well as value-added, security and storage services.

F-Secure's partners in Latin America include América Móvil's (NYSE: AMX) Claro, Net Serviços and VTR.

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