SSH Communications Security Momentum Builds on Strength of Information Assurance Platform; Company Posts Record Year
Information Assurance Platform Sales Grow Significantly in 2012
HELSINKI, Finland and WELLESLEY, Mass. – SSH Communications Security, known the world over as the inventor of the ubiquitous secure shell and SFTP protocols, today announced that the company achieved record results in profits, customer wins, product launches and corporate development in 2012.
The company showed an exceptionally strong financial year in 2012, with significant revenue growth, positive cash flow and return on equity demonstrated in all main product lines and international markets. The company’s newest additions to its Information Assurance Platform, Universal SSH Key Manager (UKM) and CryptoAuditor, were enthusiastically received by the market. UKM provides automated access management to control access to secure shell environments while CryptoAuditor delivers encrypted channeling monitoring that helps prevent data loss.
- Accelerated revenue growth to 81 percent in Q4 (48 percent for the full year), with a nine percent profit margin and 48 percent return on equity for the year.
- Outperformed all other stocks on the NASDAQ OMX Helsinki market in 2012.
- Increased sales of Tectia SSH Client and Tectia SSH Server substantially, especially in the mainframe (z/OS) market where the company signed new enterprise deals with two US top ten insurance companies.
- Hired industry veteran Richard Weeks as president of the Americas.
- Boosted company’s head count by 35 percent from 52 to 70 employees.
- Amplified sales of Tectia MobileID, the company’s two-factor authentication solution, by 191 percent.
“Major financial institutions, governments and enterprises are searching for ways to ensure compliance and reduce risk in a climate where advanced persistent threats are increasing daily,” said Tatu Ylönen, CEO and founder of SSH Communications Security. “Our corporate growth over the last year reflects the market’s strong desire for solutions that help meet complex compliance mandates and protect against a rapidly expanding threat landscape. We anticipate continuing to drive strong growth throughout 2013.”
About SSH Communications Security
Founded in 1995, SSH Communications Security is the company that invented the SSH protocol - the gold standard protocol for data-in-transit security solutions. Today, over 3,000 customers across the globe - including seven of the Fortune 10 - trust our Information Assurance Platform to secure the path to their information assets. We enable and enhance business for thousands of customers in multiple industries in the private and public sectors around the world. A fast-growing company, SSH Communications Security operates in the Americas, Europe, and APAC regions, with headquarters located in Helsinki, Finland. The company shares (SSH1V) are quoted on the NASDAQ OMX Helsinki.