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Pin to quick picksCorero Network Share News (CNS)

Share Price Information for Corero Network (CNS)

London Stock Exchange
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Share Price: 14.75
Bid: 14.50
Ask: 15.00
Change: -0.25 (-1.67%)
Spread: 0.50 (3.448%)
Open: 15.00
High: 15.00
Low: 14.75
Prev. Close: 15.00
CNS Live PriceLast checked at -

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Corero Network To Post Widened Annual Loss Amid Increased Investments

Fri, 16th Aug 2019 09:56

(Alliance News) - Shares in Corero Network Security PLC plunged early Friday after the company issued a profit warning.

Shares in Corero were down 46% at 3.42 pence each in London on Friday morning.

Corero said 2019 losses before interest, taxes, depreciation and amortisation will widen year-on-year from USD2.1 million recorded in 2018 due to increased investment in sales function. Annual revenue is expected to rise by 20% on the USD10.0 million achieved a year ago.

For the six months to June 30, the company forecasts revenue of USD4.2 million, which would represent a 16% decline from USD5.0 million last year. Interim Ebitda loss is expected to widen to USD2.0 million from USD1.4 million.

The company attributed the first half revenue fall on slower sales conversion rate in relation to the Juniper Networks Inc partnership.

The security firm said the Juniper global resale partnership will "contribute materially" in the second half of the year despite interim struggles. The partnership deal with New York-listed Juniper allows Corero to resell its own SmartWall software products and services.

Although net cash during at June 30 was USD6.9 million, down from USD9.0 in June 2018, Corero said its chair will offer additional working capital, if required.

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10 Sep 2014 09:16

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Corero Network Security Expects To Be In Line With Market Expectations

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18 Jun 2014 11:47

UK MIDDAY BRIEFING: BOE Policy Makers Still Unanimous

LONDON (Alliance News) - Bank of England policymakers unanimously decided to leave the key interest rates and asset purchase programme unchanged at the monetary policy meeting held on June 4 and 5, the minutes of the meeting showed Wednesday.

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18 Jun 2014 11:24

UK WINNERS & LOSERS: Iraq Crisis Lifts Oil Prices, Oil Companies

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18 Jun 2014 11:05

Corero Network Security secures first order for its Line of Defence solution

AIM-listed security solutions provider Corero Network Security announced it has secured its first largest Line of Defence solution contract for £0.5m. The order will provide protection for an unnamed Wall Street financial service firm and compromises several of the group's DDoS system and SecureW

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18 Jun 2014 07:24

Corero Network Security Up After Biggest Ever Denial Of Service Contract Win

LONDON (Alliance News) - Corero Network Security PLC saw its shares rise Wednesday after it won its largest ever contract win for its product that protects networks and devices from so-called denial-of-service attacks. In a statement, Corero said the order with an unnamed US financial servi

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7 May 2014 13:54

Corero Network Security Appoints New Technology Strategist

LONDON (Alliance News) - Corero Network Security PLC Wednesday said it has appointed David Larson, previously Hewlett-Packard's chief technology officer, to the role of chief technology officer and vice president of product. In a statement, Corero Network Security said Larson will direct it

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7 May 2014 13:10

UK MIDDAY BRIEFING: HSBC Profit Slides, Sainsbury Holding Out

LONDON (Alliance News) - HSBC Holdings Wednesday reported a 20% drop in first-quarter pretax profit, driven by a weak performance Asia, Latin America and its investment bank, that was only partially offset by lower impairment charges and continued cost cutting.

In a

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7 May 2014 12:07

UK WINNERS & LOSERS: Legal & General Leads On Confidence In Annuities

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Legal & General Group, up 3.2%. The group said it expects to write more

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10 Apr 2014 12:37

Corero sees 40 per cent jump in sales order intake

Corero Network Security, a network security company and provider of security protection, has seen a 40 per cent year-on-year increase in its sales order intake for the three months to March 31st. In the three-month period, Corero secured seven orders exceeding $100,000 from both new and existing c

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10 Apr 2014 10:07

Corero Order Intake Boosted By New Business Wins

LONDON (Alliance News) - Corero Network Security PLC Thursday said its order intake was up about 40% on the year in the three months to end-March, in line with its expectations, after it secured seven orders exceeding USD100,000 from new and existing customers, compared with three in the same per

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25 Mar 2014 15:18

Corero Pretax Loss Widens As Revenue Hit By Business Transition

LONDON (Alliance News) - Security software company Corero Network Security PLC Tuesday posted a widened pretax loss for 2013, as it saw revenue decline due to the transition of the focus of its business. The company posted a pretax loss of USD8.9 million, widened from a pretax loss of USD8.

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4 Feb 2014 11:03

Corero Network Security Introduces Threat Defense System

LONDON (Alliance News) - Corero Network Security PLC said Tuesday it has introduced the Corero SmartWall Threat Defense System for service providers. The network security provider said the 'SmartWall' family of products enables service providers to deliver First Line of Defense security ser

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