News & Events

24 May 2011

Full Year Results for the Year Ended 31 March 2011

Endace Limited (LSE/AIM: EDA, "Endace" or "the Company"), a world leader in network monitoring and recording solutions, announces full year results for the year ended 31 March 2011.

Highlights:

• Year of strong growth
• Financial results materially ahead of last year and earlier expectations
  • Revenues grew by 24% to US$38.4 million (2010: US$31.0 million)
  • Gross margins grew to 66.5% (2010: 64.0%)
  • Profit before tax, adjusted for share options, grew to US$2.9 million (2010: US0.4 million)
  • Cash and cash equivalents improved to US$6.4 million (2010: US$1.8 million)
• Fast growing target markets
• Governments are increasing expenditure on Cyber Security to combat terrorism
• Financial Services market driven by regulatory, compliance and risk management requirements
  • Contracts won during the year included a multi-million dollar contract with a leading global bank to replace its entire monitoring and reporting fabric across its data centers worldwide
• Increasing interest and demand from large enterprises needing to be able to protect their operations and customers from cyber attack
  • Contracts won during the year include providing Betfair with a global monitoring system to protect Betfair's global data network against cyber attack
• Continued investment in new product to maintain market lead; this includes the launch of Endace Application Dock, which allows easy integration of third party software tools onto the EndaceProbe™, enabling broader market appeal and access
• Prospects are very exciting

Endace Chief Executive, Mike Riley, commented:

"Our strategy remains unchanged. We continue to focus our product and service offerings on our three target vertical markets of Financial Services, Government Agencies and Telecommunication Service Providers, which offer us very exciting opportunities for further growth. The continued development of our product portfolio and the increasing need for a growing range of organizations to address their cyber security requirements are broadening our addressable market going forward.

"Our pipeline is strong, we look forward to continued good progress this year and we are well positioned for growth into the future."

Ends

CONTACTS:

Endace Limited
Mike Riley, CEO
+44 20 7067 0700

Weber Shandwick Financial
Nick Oborne / Stephanie Badjonat / Robert Cook
+44 20 7067 0700

Panmure Gordon
Edward Farmer
+44 20 7459 3600

About Endace

Endace provides open network monitoring and recording systems that form the basis for mission critical network security, monitoring and measurement solutions. Endace Systems are designed to be deployed from the edge to the core of the network, creating a complete monitoring and recording fabric on top of which a range of custom, open-source or commercial applications can be deployed.

One hundred percent packet capture is now widely accepted as a non-negotiable input to applications that are being used to help organizations manage risk, reputation and compliance. Based on proprietary DAG technology, Endace's systems have a global reputation for consistently monitoring and recording 100-percent of network traffic at speeds up to 40Gb/s.

Based in Auckland, New Zealand, Endace also has of­fices in the U.K. and the United States. Quoted on London's AIM, the stock code is LSE: EDA.