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Internet Security Systems tops 4Q numbers

Internet Security Systems (Nasdaq: ISSX) beat analyst estimates for its fourth quarter and fiscal year and raised its outlook for 2001.

Shares of the provider of Internet security management company moved up 2.75, or 3.86 percent, to 74 in pre-session trading on the Island ECN electronic trading network.

The Atlanta, Ga.-based company posted net income of $6.3 million, or $0.14 per share, on revenues of $59.7 million. The results beat First Call analyst earnings estimates by a penny and topped revenue forecasts of 57.23 million.

Revenue jumped 65 percent compared to the $36.2 million taken in a year ago, while earnings rose from the 8 cents a share profit earned in the year ago period.

In the fourth quarter, operating profits grew to a record level of $7.46 million while operating margin grew to 13 percent of revenues.

On a conference call, company officials said that the results were due to good execution in the face of a slowdown in information technology (IT) spending.

Officials were also bullish on the company's outlook and expect no material erosion in their business, based on customer interviews, analyst data and the company's product pipeline.

For fiscal 2001, the company bumped up revenue estimates to between $285 million and $300 million, with earnings in the range of 65 cents to 70 cents a share. First Call estimates for the year predict revenues of $268.5 million and a 61 cent a share profit.

For the upcoming quarter, ISS sees revenues in the range of $62 million to $64 million with earnings in the range of 14 cents to 15 cents a share, ahead of estimates.

The company also topped estimates for fiscal 2000, with earnings of 41 cents a share - beating analyst estimates by a penny - on revenues of $195 million.