Expansion costs firewall firm
Trusted Information Systems posts a third-quarter loss as it tries to pump up expansion of its firewall security business.
Trusted reported a loss of $446,634, or 6 cents a share, for the period ending September 29, compared with net profits of $488,381 or 7 cents a share a year ago. Revenues, meanwhile, rose to $7.3 million for the quarter, up 49 percent from a year ago. The company pointed to its commercial business for its revenue growth.
During the year, Trusted Information opened a commercial division in Maryland to sell its Internet security products. The company's Gauntlet firewall-related products generated more revenues than what has been the bread-and-butter source of sales: U.S. government research contracts.
Earlier this month, Trusted launched an IPO that raised $41 million with the issuance of 3.4 million shares. The infusion of capital will help further the company's expansion.