secunet Security Networks AG records 26 percent revenue growth in H1 2008
secunet Security Networks AG reported revenue of 21.5 million euros for the first half of 2008, with profits remaining at previous year's levels due to upfront project costs.
German cybersecurity firm secunet Security Networks AG has announced preliminary results for the first half of 2008, showing a 26 percent increase in revenue to approximately 21.5 million euros.
Despite the double-digit growth in sales, earnings for the six-month period remained flat compared to the previous year. The company attributed this to high upfront costs associated with major upcoming projects. Management characterized these expenses as a periodic effect that is expected to balance out throughout the remainder of the fiscal year.
Even with the increased expenditure, the company reported a net profit of approximately 0.3 million euros. The board confirmed that the annual revenue and earnings targets remain unchanged. A comprehensive interim report is scheduled for release on August 14, 2008.