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Security as a service boosts Fortify's quarterly results

Fortify : 23 July, 2009  (Company News)
Fortify Software registers a record quarter for earnings with existing enterprise vulnerability management products enhanced by new SaaS offering
Fortify Software has announced a strong close to the second quarter 2009 with its highest quarterly earnings to date. The quarter was marked by a 60 percent increase in revenue over the same quarter last year as well as continued customer growth company-wide.

"Cyber security threats are greater today than ever," said Fortify CEO John Jack. "Companies are realizing that some of the worst data breaches they've witnessed to date are a result of hackers exploiting vulnerabilities in enterprise software. Fortify continues to provide our customers with market-leading technologies and security strategies to eliminate vulnerabilities in their enterprise and mitigate this risk."

Highlights of the quarter include:

Highest ever quarterly revenue, with a 60% increase in revenue over the same quarter 2008

Forty-nine new customer agreements with some of the country's leading businesses and government organizations, as well as continued expansion into the global financial services market

Appointment of software security veteran, Pravir Chandra, as Director of Strategic Services, to further define Fortify's professional services strategy, training development, client service delivery and operations

Release of Fortify 360 Version 2.0, Fortify's cornerstone software security suite, providing companies with a new dashboard for Software Security Assurance (SSA) Governance

Release of Fortify's first two Software-as-a-Service (SaaS) offerings, Fortify Vendor Security Management and Enterprise Assessment Management, allowing companies to inspect the security of applications from commercial software vendors and deploy enterprise-wide basic security testing programs

Strategic collaboration with HP to provide to help customers reduce their business risk by identifying, prioritizing and fixing critical security vulnerabilities across the application life cycle

Additionally in Q2 Fortify hosted its first Executive Summit on cyber security with Former Secretary of State, Gen. Colin Powell, in Washington, DC. The company was recognized by The Software & Information Industry Association (SIIA) with the CODiE Award for Best Software Testing Solution for its software security suite, Fortify 360. Fortify was also recognized by SC Magazine with the 2009 Readers Trust Award for Best Security Software Testing Solution.
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