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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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Pivot to service-based model paying off for Corero

Wed, 04th Jan 2017 14:35

(ShareCast News) - Network security company Corero Network Security announced on Wednesday 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 $0.3m.The AIM-traded firm introduced the 'as-a-service' offering in response to increasing customer interest in subscription-based contracts, as opposed to the purchase of equipment under a traditional perpetual license model.Corero's board said the offering is expected to expand its addressable market, and was proving popular with fast-growing cloud-hosting providers and regional service providers, as they can enter the market more rapidly by offsetting the costs of operating a DDoS protection solution with the monthly revenues derived from selling high-margin security services to their own customers.This 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 added that it also enjoyed an increase in perpetual license model revenue billings in the fourth quarter of 2016."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," said CEO Ashley Stephenson."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."An update on trading for the year to 31 December will be provided ahead of the full year results announcement.
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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

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.
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FTSE 100 - WINNERS
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Royal Dutch Shell, up 1.9%. The oil major and state-owned China National Offshore Oil Corpor

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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

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Wednesday.
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FTSE 100 - WINNERS
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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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