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Net security firm reports revenue jump

Internet Security Systems posts net income of 11 cents per share, a penny above analyst expectations, on revenue of $51.8 million.

Internet Security Systems reported net income of 11 cents per share Tuesday, a penny above analyst expectations, on revenue of $51.8 million.

The company's $52 million revenue was a 73 percent increase over the $30 million for the same quarter the year before. Net income grew from $693,000, or 2 cents a share, to $4.8 million, or 11 cents a share, for the same period.

The Atlanta company sells security software and services. Analysts surveyed by First Call/Thomson Financial expected revenue of 10 cents per share for the company's third quarter, which ended Sept. 30.

Robinson-Humphrey analyst Chris Hovis said Tuesday that although the company's revenue was 8 percent higher than his forecast $47.9 million, the gross margin of 68.3 percent was lower than expected.

On Monday, ISS added 11 new companies to a program to let others offer ISS software as a service to their customers. There now are 19 companies in the program, ISS said.

New partners include PricewaterhouseCoopers, Lucent NetCare, Qwest Communications International, GE Medical and Existing partners include BellSouth and Globix.