Welcome!

@CloudExpo Authors: Liz McMillan, Yeshim Deniz, Pat Romanski, Elizabeth White, Carmen Gonzalez

News Feed Item

Websense Names John McCormack as CEO; Announces Preliminary Fourth Quarter 2012 Financial Results

Achieves Record Fourth Quarter Billings Performance

SAN DIEGO, Jan. 13, 2013 /PRNewswire/ -- Websense, Inc. (NASDAQ: WBSN) today announced that its board of directors has named John McCormack as the company's chief executive officer and as a board member, effective immediately. He succeeds Gene Hodges, who is retiring after serving as both CEO and a board member since January 2006. Websense also announced record fourth quarter billings performance, Charles Boesenberg's appointment to the board of directors, and Russ Dietz as the company's chief technology officer.

"The board and I would like to thank and congratulate Gene for a strong fourth quarter performance and for all that he has accomplished in transforming Websense into a leading content security provider," said John Carrington, chairman of the Websense board of directors. "We wish Gene the best in his retirement, and we are confident that he leaves Websense well-positioned as we continue to extend our technology leadership and achieve corporate objectives."

"John McCormack has taken the lead in the successful execution of our strategic initiatives, enabling us to generate solid fourth quarter billings growth amid the continued expansion of our field sales organization," said Carrington. "As president, he has demonstrated his executive acumen while leading our worldwide sales and sales engineering teams; our marketing, product management, business development and technical support organizations; as well as the Websense® Security Labs™ and research and development."

Preliminary Fourth Quarter Financial Results

Websense also released its preliminary fourth quarter 2012 results today. The company expects billings to be approximately $122 million, up 5 percent year-over-year, exceeding its guidance range of $112 to $117 million for the fourth quarter. Also for the fourth quarter, Websense expects revenues of $91.5 to $92.0 million, versus guidance of $90 to $92 million.

Non-GAAP earnings per diluted share are expected to be in the range of $0.27 to $0.28, versus guidance of $0.32 to $0.35, primarily reflecting the increased sales commissions incurred with the higher-than-expected billings during the quarter.

The company expects fourth quarter cash flow from operations to be approximately $11 million, versus guidance of $8 to $11 million, also reflecting the higher level of billings.

"With solid sales of our TRITON™ products across all global markets, we were able to achieve billings results above our expectations," said John McCormack, Websense CEO. "I look forward to continuing this momentum as we expand our sales coverage and reach more customers with our innovative content security solutions."

Complete financial results for the fourth quarter and full year 2012 will be released after the market close on January 29, 2013.

Charles Boesenberg Appointed to Board of Directors

Websense also announced that Charles Boesenberg was appointed as an independent director, effective today.

"We are pleased to strengthen our board with the addition of Charles Boesenberg, a seasoned board member with more than 30 years of experience in accelerating growth for high-tech companies as both a CEO and an independent director," said Carrington. 

Boesenberg is currently a board member for Boingo Wireless, Callidus Software®, Keynote® Systems and Silicon Graphics International Corporation (SGI®). He has previously served on the boards of Symantec™, Ancestry.com®, Rackable Systems, Onyx Software Corporation, Macromedia, Maxtor and Interwoven. Boesenberg is the former chief executive officer and chairman of the board of NetIQ® Corporation; president and CEO of Integrated Systems Inc; and has held senior executive level positions at companies including Magellan Corporation, Central Point Software, Apple® Inc., Data General and IBM®.

Boesenberg's memberships on Websense board committees will be determined in the near future.

Management Appointments

Websense CEO John McCormack joined the company in July 2006 as senior vice president of product development and was named president in April 2009.

"With more than 25 years of security and industry experience, McCormack's leadership, vision and technical insight has been a driving force in Websense's global expansion and ground-breaking innovation," said Carrington. "Under his guidance, Websense has emerged as a consistent leader in the rapidly evolving content security industry. His vision is reflected in the award-winning Websense TRITON architecture, which unifies the essential components of modern threat defense and data theft prevention into a cohesive content security system that offers best-in-class security effectiveness and pervasive deployment across an integrated appliance and cloud platform."

In addition to the appointment of McCormack as CEO, Russ Dietz has also been named Websense chief technology officer (CTO).

Russ Dietz joined Websense in November 2012 as CTO and executive vice president of product development. He is responsible for the future of Websense TRITON security technology and product strategy, innovation, and research and development. Dietz will oversee the worldwide Websense engineering, product management and security lab teams.

"Russ has a unique combination of business, market, and technology skills that will prove invaluable as we continue to build upon our innovative TRITON platform," said McCormack. "Our continued investment in cloud, mobile, data, and internet security will be enhanced by his leadership and proven success in these areas. TRITON has set the industry benchmark for best-in-class integrated content security and I'm confident that Russ can lead our team's efforts to accelerate our momentum as we enhance this technology platform."

Dietz brings more than 30 years of experience in the technology and security space to Websense. He has a proven record of success as CTO of multiple hardware, software and systems security companies, and is a recognized pioneer and innovator in cloud computing and virtualization security solutions. Dietz holds more than 20 patents in encryption, authentication and network traffic behavior and analysis.

"Websense is extremely well-positioned in the marketplace, and I am proud to join the Websense team," said Russ Dietz, Websense CTO. "I look forward to extending the company's technology platform as well as expanding its market leadership. My goal is to drive continued innovation in the delivery of integrated content security, both in the cloud and through on-premise appliances, maintaining our corporate commitment that no one stops more security threats than Websense."

Non-GAAP Financial Measures

This news release refers to earnings per diluted share that is not calculated in accordance with generally accepted accounting principles (GAAP). Non-GAAP earnings per diluted share adjusts for the following items: acquisition related adjustments, share-based compensation expense, amortization of intangible assets, deferred expenses and certain other items. Management believes this non-GAAP financial measure provides meaningful supplemental information regarding our performance that enhances management's and investors' ability to evaluate the company's operating results, trends and prospects and to compare current operating results with historic operating results. A reconciliation of GAAP earnings per diluted share and non-GAAP earnings per diluted share for the fourth quarter of 2012 will be provided when our final fourth quarter financial results are released on January 29, 2013.

This news release also includes billings which is not a numerical measure that can be calculated in accordance with GAAP. Websense provides this measurement in news releases reporting financial performance because this measurement provides a consistent basis for understanding the company's sales activities in the current period. The company believes the billings measurement is useful to investors because the GAAP measurements of revenue and deferred revenue in the current period include subscription contracts commenced in prior periods. A reconciliation of billings to deferred revenue for the fourth quarter of 2012 will be provided when final fourth quarter financial results are released on January 29, 2013.

About Websense, Inc.

Websense, Inc. (NASDAQ: WBSN), a global leader in unified web security, email security, mobile security, and data loss prevention (DLP), delivers the best content security for modern threats at the lowest total cost of ownership to tens of thousands of enterprise, mid-market and small organizations around the world. Distributed through a global network of channel partners and delivered as appliance-based software or SaaS-based cloud services, Websense TRITON content security solutions help organizations leverage social media and cloud-based communication, while protecting from advanced persistent threats and modern malware, preventing the loss of confidential information, and enforcing internet use and security policies. Websense is headquartered in San Diego, California with offices around the world. For more information, visit www.websense.com.

Follow Websense on Twitter: www.twitter.com/websense

Join the discussion on Facebook: www.facebook.com/websense

This news release contains forward-looking statements that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause Websense's results to differ materially from historical results or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including the estimates of the fourth quarter 2012 results, statements regarding expansion of sales coverage and expected benefits, billings and growth momentum, statements regarding the expected contributions of new management, statements of belief and any statements of assumptions underlying any of the foregoing, and any statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates" or similar words. The potential risks and uncertainties which contribute to the uncertain nature of these statements include, among others, risks associated with expanding Websense's sales force on a global basis, including hiring and integration related risks, customer acceptance of the company's products and services, product performance, launching new product offerings, products and fee structures in a changing market, the success of Websense's brand development efforts, the volatile and competitive nature of the Internet and security industries, changes in domestic and international market conditions, including in continental Europe, fluctuations in currency exchange rates and impacts of macro-economic conditions on our customers, ongoing compliance with the covenants in the company's credit facility, changes in accounting interpretations and the other risks and uncertainties described in Websense's public filings with the Securities and Exchange Commission, available at www.websense.com/investors. Websense assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.

Investor Contact:
Avelina Kauffman
Websense, Inc.
(858) 320-9364
[email protected]

Media Contact:
Patricia Hogan
Websense, Inc.
(858) 320-9393
[email protected]

SOURCE Websense, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@CloudExpo Stories
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, w...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs ofte...
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which in...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
SYS-CON Events announced today that DivvyCloud will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. DivvyCloud software enables organizations to achieve their cloud computing goals by simplifying and automating security, compliance and cost optimization of public and private cloud infrastructure. Using DivvyCloud, customers can leverage programmatic Bots to identify and remediate common cloud problems in rea...
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assis...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to ov...
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
SYS-CON Events announced today that A&I Solutions has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 1999, A&I Solutions is a leading information technology (IT) software and services provider focusing on best-in-class enterprise solutions. By partnering with industry leaders in technology, A&I assures customers high performance levels across all IT environments including: mai...
SYS-CON Events announced today that Tappest will exhibit MooseFS at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. MooseFS is a breakthrough concept in the storage industry. It allows you to secure stored data with either duplication or erasure coding using any server. The newest – 4.0 version of the software enables users to maintain the redundancy level with even 50% less hard drive space required. The software func...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software in the hope of capturing value in IoT. Although IoT is relatively new in the market, it has already gone through many promotional terms such as IoE, IoX, SDX, Edge/Fog, Mist Compute, etc. Ultimately, irrespective of the name, it is about deriving value from independent software assets participating in an ecosystem as one comprehensive solution.