Strong global demand for robust network access control products contributes to record quarter despite economic downturn
ForeScout Technologies has closed its strongest quarter in the company’s history. The third quarter ended 30 September 2008, with sales almost double what they were over the same period last year (also a record quarter), and 113% of quarterly plan. The current outlook for ‘Q4 also looks strong. 'While we remain cognisant of the waves of bad news about the U.S. and global economy, we are pleased to share our quarterly results,' said T. Kent Elliott, CEO of ForeScout Technologies. “ForeScout has experienced its strongest quarter ever, delivering far above planned expectations. We have extended the global deployment of our CounterACT product. Feature enhancements have been added, each shaped by customers' real-world deployment requirements. We are now realising growth in markets where regulatory compliance and network access control are mission-critical.” Elliott continued: “Federal adoption of CounterACT’s NAC technology more than doubled year over year. The US government and military combined now represent ForeScout’s largest customer segment. Though talks of IT budget cuts persist, we believe regulatory sanctions placed on credit and lending agencies, and the requirement for stronger enforcements, could drive further adoption of our CounterACT products in the financial market. Clearly, in a time of national change and financial uncertainty, the need for better security and compliance solutions does not go away.' ForeScout also announced this week that it is now protecting over 1.8M endpoints worldwide, and has unified and expanded its CounterACT portfolio of products to focus and better address customer requirements. To recap quarterly successes: following the announcement of $8M in new funding early in the quarter, ForeScout continued its momentum securing new customer engagements with Verizon, Haworth, Department of Defence, and Golden West College, to name a few. ForeScout also announced a new partnership agreement with McAfee, enabling integration of the McAfee ePolicy Orchestrator (ePO) with CounterACT for enterprise security and compliance management. ForeScout also expanded its product line with the release of its CounterACT v. 6.3 Payment Card Industry (PCI) Compliance Kit, providing ForeScout customers with a solution for streamlining the PCI audit process.
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