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I think 5p coming here to be honest
i wonder if we hit rock bottom yet or there is more bad news incoming
Burning Cash like nothing ever seen, when is the placing to generate funds? Draft - I told you!
limited visibility on fcf postivity
Corero also enjoyed an increase in perpetual license model revenue billings in the fourth quarter of 2016. But yeah 300,ooo for a year on five new contracts is not great at all FFS �
Yes it is pathetic, think it's fooked here unless a takeover happens
Although it is good to see some lower value deals an additional run rate of $0.3m is, to say the least, absolutely pathetic. The market is going to the SaaS model so no surprise - this does give cash flow issues with no nice upfront payment. Hope the new CEO is purely paid in shares to force his concentration.
RNS Number : 2696T Corero Network Security PLC 04 January 2017 4 January 2017 Corero Network Security plc ("Corero" or the "Company") DDoS protection "as-a-service" revenue model wins Corero Network Security plc (AIM: CNS), the AIM listed network security company, is pleased to announce that it has won five "as-a-service" subscription-based contracts for its DDoS protection products and technology in the final quarter of 2016, with an aggregate annualised contract value of $0.3 million. The "as-a-service" offering was introduced in response to increasing customer interest in subscription-based contracts in contrast to the purchase of equipment under a traditional perpetual license model. This "as-a-service" offering is expected to expand Corero's addressable market and is proving popular with fast-growing Cloud hosting providers and regional service providers who can enter the market more rapidly by offsetting the costs of operating a DDoS protection solution with the monthly revenues derived from selling these high margin security services to their own customers. This "as-a-service" sales model, which was introduced in the fourth quarter of 2016, reduces recognised revenue at the time of the initial customer order but increases the contract value and recurring revenues over the life of the deal. Corero also enjoyed an increase in perpetual license model revenue billings in the fourth quarter of 2016. An update on trading for the year to 31 December 2016 will be provided ahead of the full year results announcement. Ashley Stephenson, CEO of Corero, commented: "As reported in the Interim Results announcement in September, we anticipated an increase in customers seeking to utilise Corero's DDoS Protection products and technology via an "as-a-service" subscription-based offering, thereby increasing Corero's addressable market. We are pleased with these initial customer wins and see an increasing opportunity to add incremental subscription-based customers in 2017 which will serve to boost our recurring revenue base." Enquiries: Corero Network Security plc Andrew Miller, CFO Tel: 01895 876 382 Cenkos Securities plc Tel: 020 7397 8900 Bobbie Hilliam - NOMAD Alex Aylen - Corporate Broking Redleaf Communications Tel: 020 7382 4747 Rebecca Sanders-Hewett/David Ison/Susie Hudson cns@redleafpr.com About Corero Network Security Corero Network Security is the leader in real-time, high-performance DDoS defense solutions. Service providers, hosting providers and online enterprises rely on Corero's award winning technology to eliminate the DDoS threat to their environment through automatic attack detection and mitigation, coupled with complete network visibility, analytics and reporting. This next-generation technology provides a First Line of Defense® against DDoS attacks
(AIM: CNS), the AIM listed network security company, is pleased to announce that Andrew Lloyd, currently a non-executive director of the Company, has been appointed President and Executive Vice President Sales and Marketing for Corero. Andrew will move into an Executive role on the Board following his appointment. Andrew Lloyd has been involved in the IT software and systems sector for more than 25 years. His career has included successful roles with large corporations including Oracle and Computer Associates, as well as high-growth ventures including PrismTech and, most recently, private equity-backed Workplace Systems. At Oracle, over an eight year period Andrew held a number of leadership sales roles on both sides of the Atlantic. Thereafter, as VP Security Management at Computer Associates ("CA"), Andrew was responsible for sales and marketing of CA's security management business (known as e-Trust) across the EMEA region. From 2008 to 2013, Andrew held the position of Senior Vice President of PrismTech Group's OpenSplice business. In 2013 he joined Workplace Systems, where he was Chief Customer Officer and part of the leadership team which subsequently sold the business to US-based WorkForce Software in June 2016. Following the sale, Andrew was appointed SVP Sales for WorkForce Software with responsibility for leading the sales teams in EMEA and Asia Pacific regions while completing the post-acquisition integration of the Workplace Systems business. Andrew will be responsible for leading Corero's commercial expansion and sales growth. In conjunction with Andrew's appointment, Dave Larson, Chief Operating Officer, will be leaving Corero to pursue other interests. Dave Larson was not a Board member but considered a PDMR. Jens Montanana, Chairman of Corero, commented: "We are delighted that Andrew has agreed to join Corero as President and Executive Vice President Sales and Marketing. His skillset and experience of both growth companies and large multinationals will be invaluable as we drive our revenue growth and establish Corero as a leading player in the DDoS mitigation market."
I did try and warn you, but oh well let's see what 2017 holds for CNS.
Whilst Corero bod lie asleep, Deepfield which does exactly the same thing as Corero gets acquired FFS
Back in 2012 this had a placing at 43p 4.56 million to be raised by way of a conditional Placing, which was over-subscribed,� to certain institutional and other investors at a price of 43 pence per Ordinary Share (representing a discount of 2.3 per cent. against the closing mid-market price on 16 February 2012)
According to a statement released by Nokia and Deepfield, the acquisition will "extend Nokia's leadership in real-time, analytics-driven network and service automation, providing customers including communications service providers, cable operators and cloud, webscale and large technology companies with greater network and application insight, control and DDoS protection."
Just need some acquisition news to send this to 40p
It moved..............I think
Can't believe it doesn't move
...I might be seeing what I wish for and missing the obvious reason (a mistake?). Late reported trade of 1.88m shares bought at 9p each. £169,200 and still no move on the spread.
Placees averaging down??
..is fooling with the figures reported to the LSE. Another 1.55m bought and no change in the spread!
..has confidence or am I dreaming the 1m buy yesterday, after hours?
They needed to win those big deals and they haven't I wonder if their prices are too high