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Are we FINALLY getting our act together with the contracts and turning the corner? Near 70% increase in SP in the last 3 weeks... 19 April 2017 Corero Network Security plc ("Corero" or the "Company") DDoS protection "as-a-service" contract win Corero Network Security plc (AIM: CNS), the AIM listed network security company, is pleased to announce that its SmartWall® Threat Defense System ("SmartWall") technology has been selected by a Global Tier 1 Internet service provider to deliver a new DDoS mitigation security service. Corero has signed a multi-year SmartProtect agreement to provide its SmartWall products and SecureWatch services as part of the roll out of DDoS Protection as a Service (DDPaas) to the service provider's customers. SmartProtect is Corero's comprehensive solution for enabling DDoS Protection as-a-Service (DDPaas). SmartProtect is designed for the broad ecosystem of service providers - hosted, managed and ISP - giving operators of all sizes the capability to deliver high-value, premium DDPaaS to their customers, with an attractive economic model. The contract provides for Corero to receive a share of revenue generated by the service provider for subscriptions to the new service. This service provider operates one of the world's Tier 1 IP networks and provides IP transport, MPLS transport services, managed services, voice and unified communications to enterprise, government, and carrier customers in over 100 countries. Ashley Stephenson, CEO of Corero, commented: "This contract win is a strong endorsement of the competitive leadership of SmartWall and the compelling commercial benefit of our SmartProtect program. Delivering large scale DDoS mitigation with an economic model that is aligned to the success of selling DDoS protection security services is a win-win situation for Corero and the service provider. We look forward to working in partnership with this provider as the service rolls out over the coming months to its significant customer base."
Remember to vote
Last few days have seen an upward movement in SP. Possibly following the keenness of J Montanana and P K Gains to invest further monies. Any ideas if a full reversal is possible?
Summary of y/e results Corero Network Security (LON:CNS) 5.75p £12.24m FYDec16 results from the network security company. Strong performance of flagship SmartWall product with related revenue up 62%. Total revenue up 5% to $8.8 million. Reduced EBITDA loss $5.1 million (2015: $6.4 million). Net cash $2.9 million. "Recommended" rating from NSS Labs, the world's leading independent product test laboratory . The new financial year is off to a good start, having signed Corero's largest SmartWall deal to date. The Board has confidence Corero will deliver strong revenue growth in 2017. Has recently announced proposed £5.6m fundraising at 5p. FY Dec17E £9.43m rev and £5.71m pre-tax loss,
Looks like a transfer into ISA (sold then bought with money transferred) or into a SIPP?
Strange. - no reason given for the fundraising - complete silence on business performance - Jens has made such a loss already, is he trying to get the company "on the cheap" based on inside knowledge Perhaps the management should focus on a company operating in a market that is growing exponentially, rather than financial engineering we might be in a better position. price reaction shows complete and total indifference
Proposed Fundraising Corero Network Security plc (AIM: CNS), the AIM listed network security company, today announces its intention to raise approximately GBP5.0 million from a proposed conditional placing and subscription (the "Fundraising"). It is expected that the Fundraising, when launched, will be conducted at a price of 5.0 pence per new ordinary share of 1 pence each ("Ordinary Share") (the "Placing Price"). Jens Montanana, the Company's Chairman, has indicated to the Board that he proposes to subscribe for no less than GBP4.2 million of the Fundraising. Mr Montanana has communicated to the Board that any such proposed investment in the Company will be conditional on him increasing his shareholding in the Company to above 50 per cent. of the issued share capital of the Company as enlarged by the Fundraising. As Mr Montanana currently holds 34.1 per cent. of the Company's issued share capital, without a waiver of the obligations under Rule 9 of the Takeover Code ("Rule 9 Waiver"), he would be obliged to make a general offer to Company shareholders if he increased his shareholding. Further Mr Montanana and Andrew Miller, who is deemed to be acting in concert with Mr Montanana (together, the "Concert Party"), have an interest in the Company over a total of 2,921,000 options over Ordinary Shares ("CP Share Options"). Should the Concert Party exercise their rights under the CP Share Options without a Rule 9 Waiver, they would be obliged to make a general offer to Company shareholders. Accordingly, the Company is seeking consent from the Panel on Takeovers and Mergers ("Panel") to waive the obligation on the Concert Party to make a general offer that would otherwise arise as a result of the issue of Ordinary Shares to the Concert Party under the Fundraising and/or the exercise of the CP Share Options. The Panel's waiver (if given) will be subject to the approval of independent shareholders, being shareholders excluding both members of the Concert Party and any other shareholders who subscribe for Ordinary Shares in the Fundraising ("Independent Shareholders"), taken on a poll at a general meeting of the Company. A circular containing a notice of general meeting is currently being prepared by the Company and will be sent to shareholders when the Fundraising announcement is made (assuming that the Fundraising proceeds). In the notice of general meeting, Independent Shareholders will be asked to consider and vote on the resolution approving the Rule 9 Waiver on a poll and shareholders as a whole will be asked to approve the issue of Ordinary Shares pursuant to the Fundraising. The circular will be sent to all shareholders in due course and an announcement will be made when the circular is posted. In the event that a Rule 9 Waiver is not obtained or the authorities necessary to authorise the Directors to complete the Fundraising are not approved by the requisit
Corero Network Security (LSE: CNS) leading provider of real-time DDoS protection solutions has teamed with Independents Fiber Network, a wholly owned subsidiary of Com Net Inc ("CNI-Independents”) to safeguard their customers from DDoS attacks. CNI-Independents is a Tier 2 Telecommunications company with 21 Tier 1 interconnect partners throughout Ohio, Indiana and Michigan. Providing operational services, as well as Ethernet transport services to Telco companies and commercial businesses for almost 25 years. The implementation of Corero real-time DDoS defense technology was a strategic decision to mitigate Internet service disruptions caused by DDoS attacks. DDoS attacks are attempts to make online services unavailable by overwhelming it with traffic from multiple sources. The attacks are extremely difficult to defend against and can be very costly to the Internet providers. Corero delivers dedicated technology for real-time mitigation of DDoS attacks in seconds vs minutes, allowing good user traffic to flow uninterrupted via the SmartWall® Threat Defense System (TDS) with SecureWatch® Analytics, a family of solutions that utilize modern DDoS mitigation architecture to automatically remove DDoS attack traffic. “Protecting the security of our network and delivering value added service has always been a prime focus of CNI-Independents,” said Tim Berelsman, CEO. “Investing in the Corero SmartWall TDS system is the best solution to more effectively monitor and mitigate DDoS threats automatically, in-line and in real-time. We plan to use the new DDoS mitigation capabilities to create new service offerings that would benefit customers with enhanced service level agreements supported by further secured Core networks.” Another benefit is that CNI-Independents’ security staff have more time to focus on other key aspects of customer-related security issues, such as virus and malware-related events. Aaron Holtz, GM of CNI Broadband Operations, added, “Every Internet Service Provider is susceptible to these kind of attacks, but we are taking the steps to eliminate the DDoS threat. We know our partners and their customers will appreciate it as much as we do.”
Strangely someone takes an alternative point of view and bought 1m at 5.88p at 17:15 hrs yesterday. Takes all types.......
It is buggered, if I could get these at 1p then fine
rights issue on the way ? or any other explanations - eg they have missed the boat ?
This is headed to the toilet unfortunately I will buy at 1p Market really doesn't like this
The SmartWall® NTD1100 Underscores the Company’s Commitment to Supporting the Market Demand for Large Scale, Cost Effective DDoS Protection Deployments Corero Network Security (LSE: CNS) today announced the expansion of its award-winning, real-time, DDoS mitigation solutions, with the SmartWall® Network Threat Defense 1100 (NTD1100). The SmartWall family of appliances now extends its real-time, line-rate, DDoS detection and automatic mitigation, to 100 Gigabit Ethernet connections. Protection is delivered in a compact 1 RU form-factor – an industry first – scaling to 4Tbps of protection in a single rack. The expansion of the SmartWall product line is a direct response to industry leading Internet service providers, hosting providers and online enterprises evolving their businesses to realize the maximum value from their Internet connectivity and ultimately, their investment in DDoS mitigation. “The evolution of our product reinforces our leadership role in delivering the robust, real-time, DDoS protection Corero customers are used to, while maintaining industry disrupting economies of scale. Corero continues to re-write the book on DDoS defense, with high security efficacy, matched with superior performance and overall value to the customer,” said Ashley Stephenson, CEO, Corero. The SmartWall NTD1100 is capable of supporting large-scale transit and peering point deployments with in-line protection or scrubbing-center topologies, with benefits including: New extensible architecture, positioned for future scaling and support of virtual, cloud and SDN/NFV deployment models. Automatic surgical mitigation of volumetric DDoS attacks, in seconds, not minutes Comprehensive traffic visibility and DDoS attack analytics Centralized Management and analysis; offered as either physical or virtual appliances The SmartWall NTD family of solutions is also available as a component of the Corero SmartProtect program, designed to enable Internet service and hosting provider operators to deliver high-value, premium DDoS Protection as-a-Service (DDPaaS) to their customers, with a disruptive pricing model which eases adoption. SmartWall NTD1100 will be on display at Booth # 2333 during RSA 2017 in San Francisco. SmartWall NTD1100 maintains a pricing scale that is up to four times less than traditional mitigation solutions, with flexible procurement options. Shipment planned in Q2, 2017.
One to watch here. Sp near 52 week low. More funding required though by the looks of it. http://www.proactiveinvestors.co.uk/companies/news/172906/corero-off-to-fast-start-in-2017-with-contract-win-172906.html
I sold all my shares, too much cash burn here This mornings rns was good but not sure enough I might buy back in
well until this bit 'In order to get to the position of being cash generating, the Company will require further growth financing support in the first half of 2017 and is exploring both equity and loan financing, and the Company's major shareholder is supportive of this.'
Major contract win The Company is pleased to announce that it has been awarded a new material SmartWall contract valued at $1.0 million with supporting SecureWatch(R) services for one year (with the vast majority of the revenue to be recognised in the year ending 31 December 2017). This contract win follows a successful Proof of Concept trial during which Corero was able to demonstrate the effectiveness of automatic, real-time DDoS protection. Juniper Networks technology alliance partnership Corero has entered into a technology alliance partnership with Juniper Networks, a US based multinational corporation that develops and markets networking and security products. This relationship enables the combination of Corero's SmartWall solution with Juniper Networks(R) MX Series Router and QFX Series switches to create highly scalable DDoS mitigation solutions as an integral component of service provider and enterprise networks. As a result of Corero's relationship with Juniper, organisations can take advantage of these proven solution designs for highly scalable and flexible DDoS mitigation capacity at the enterprise or provider network edge. This relationship will enable Corero to expand its market reach by leveraging Juniper Networks global footprint. Corero's strategy is to work with network vendors to make DDoS mitigation an integral component of any well-engineered Internet facing network design. Ashley Stephenson, CEO commented: "Corero enters 2017 well positioned to be the challenger in the fast growing DDoS mitigation market with SmartWall solution validation from over 60 customers and technology validation from NSS Labs. Our goal is to grow faster than the market by taking share from others. Head to head trials are proving we are the number one solution for real-time DDoS mitigation. "We have strengthened our sales leadership with the recent appointment of Andrew Lloyd as President and Executive Vice President Sales. We have also expanded our addressable market via the recently introduced as-a-service purchase model and are encouraged by the potential for strategic go-to-market partnerships such as the alliance with Juniper. This gives us confidence Corero will deliver strong revenue growth in 2017. "The 2017 financial year is off to a strong start with this major contract win, which demonstrates the significant opportunity for Corero in the Cloud computing market. We expect an increasing number of corporations will see the value of investing in DDoS protection to protect their revenue streams and defend their brand reputations."
Trading update Corero ended the year strongly, with record final quarter SmartWall order intake with 15 new customers added, including five new "as-a-service" customers. Corero has now deployed its SmartWall solution at more than 60 service providers, hosting providers and on-line enterprises, providing real-time DDoS and cyber threat protection. A growing number of customers are now public references for Corero. Revenue for the year ended 31 December 2016 is expected to be approximately $8.8 million (2015: $8.3 million). SmartWall revenue was up 62% over the prior year whilst legacy product revenues declined as expected. The 2016 revenue was lower than market expectations, in part impacted by the new "as-a-service" customers signed in Q4, where the revenue is recognised monthly over the term of the contract. The offsetting benefit is that these contract wins will add to the recurring revenue recognised in 2017 and beyond. The EBITDA loss (operating loss before depreciation, amortisation and financing) for the year ended 31 December 2016 is expected to be approximately $5.1 million (2015: EBITDA loss $6.4 million), an improvement over market expectations. Net cash at 31 December 2016 was $2.9 million (2015: $2.7 million). Corero continues to focus on scaling SmartWall revenues and as the business achieves critical mass it will be in a position to self-fund its ongoing product development and sales and marketing activities. In order to get to the position of being cash generating, the Company will require further growth financing support in the first half of 2017 and is exploring both equity and loan financing, and the Company's major shareholder is supportive of this. The service provider and hosting provider requirements for real-time, automatic DDoS mitigation solutions are growing, driven by the increasing demand from their customers for DDoS protection. Corero is confident of the market opportunity for SmartWall in the service provider and hosting provider markets, and is pleased with the validation from numerous material customer wins in the past year and from the achievement of a "Recommended" rating from NSS Labs, the world's leading independent security product test laboratory.
Last two lines; Alerting and action messages Life-cycle management functions That's All Folks!
New Program Gives Hosting Providers and ISP’s the Capability to Deliver Corero’s Award-Winning Automatic DDoS Protection as a Premium Security Service to its Business Customers Corero Network Security’s (LSE: CNS) today introduced SmartProtect, a new program to enable DDoS Protection-as-a-Service (DDPaaS) for hosting providers and internet service providers (ISPs) to deliver to their customer base. With SmartProtect, providers take advantage of Corero’s SmartWall® Network Threat Defense (TDS) solution to successfully offer their downstream customers a managed DDoS security service that delivers advanced DDoS protection for these businesses and in turn, drive new service revenue. “Corero SmartProtect is a new program designed for a broad ecosystem of service providers – hosted, managed and ISP – which gives these operators the capability to deliver advanced DDoS protection as a new high-value managed service to their customers, with an easily digestible economic model,” said Corero CEO, Ashley Stephenson. “Not only does this enable another layer of defense against multi-vector DDoS attacks for service providers’ infrastructure, but it gives them stronger competitive positioning in the marketplace and a new service offering to add to their portfolio of revenue generating services.” The program allows unique procurement options for providers to purchase real-time DDoS mitigation technology from Corero, to better meet the needs of the buying process effectively lowering the barrier to entry for automated DDoS mitigation. “Tier 2 and Tier 3 Service Providers and Hosting Providers now have access to DDoS protection at the price and performance that makes sense to their business, whereas five years ago, this wasn’t a possibility. Traditional DDoS solutions historically have not given way to enabling additional service offerings that service providers could use to generate incremental revenue. This combination now provides a game changing opportunity for the service provider community.”-Jeff Wilson, Senior Research Director and Advisor. The SmartProtect program couples industry leading technology with the operational and analytics tools for implementing DDoS protection-as-a-Service: Automatic DDoS detection and protection; combines highest level of DDoS protection and linear scale to any capacity at industry disrupting price points Corero Security Operations Center monitors and manages the DDoS protection lifecycle, eliminating the need for in-house DDoS security experts Flexible and scalable solutions to meet the needs of the dynamic service provider Also introduced as a key component of the SmartProtect program, a first in the DDoS mitigation industry; the availability of the SmartWall Service Portal that provides real-time, per-tenant visibility and administration for: Traffic and attack dashboards Role-based access for specific functions
5p wow :( it certain doesn't look too good, even at 5p i probably wont buy any shares. Did you sell all your share in cns Draft?