Despite recessionary times, McAfee has lodged record results for the second quarter ended June 30, 2009.

Revenues increased 18% to $469 million year-over-year and 5% quarter-over-quarter. There was a record $1.31 billion of deferred income which represented a 20% year-over-year increase and a quarter-over-quarter 3% increase.

Currency fluctuations hit the revenue line to the tune of $22 million. Respectively, GAAP and non-GAAP earnings per diluted share were $0.18 and $0.60, respectively. Non-GAAP earnings per diluted share reached a record $0.60, an increase of 15% year-over-year and 5%. quarter-over-quarter

Dave DeWalt, the president and chief executive of McAfee, said about the results:
“For the second quarter of 2009, we are proud to report quarterly records in revenue, deferred revenue, non-GAAP operating income, and non-GAAP net income. Our continued market share gains prove customers and partners choose McAfee for security leadership.”

He continued:
“With our pending acquisition of MX Logic, McAfee expects to strengthen our position as an innovative leader in the security Software-as-a-Service segment with one of the most diverse portfolios in the industry. We expect to bring customers enhanced cloud based email and Web security with archiving in a rapidly growing segment. This combination will give customers greater access to critical messaging SaaS offerings and an expanded network of partners across the world.”

McAfee serves both the business and consumer sectors. In the business sector, revenue grew 21% year-over-year to a record $291 million in the second quarter of 2009. In the consumer sector, revenue grew 13% year-over-year to a record $177 million in the second quarter of 2009. And McAfee signed, or extended 24 agreements and launched 63 new or enhanced online partnerships. This brought the total to over 200 brand name partners worldwide.

When they announced results, McAfee recapped the highlights of the period:

• completed the acquisition of privately owned Solidcore Systems, offering first end-to-end compliance solution that includes dynamic whitelisting and application trust technology, antivirus, antispyware, host intrusion prevention, policy auditing and firewall technologies;
• unveiled McAfee Family Protection, a new software program that can protect a child from online dangers, such as viewing inappropriate content, participating in cyberbullying and engaging in risky interactions on social networking sites;
• released McAfee ePolicy Orchestrator 4.5 software to help secure organizations from a vast and ever-growing threat landscape;
• released Total Protection Service, the industry’s SaaS solution offering always on guard protection without additional investment in on-premise infrastructure;
• upgraded its enterprise firewall products with next generation capabilities that help customers increase network security and lower their compliance and operational costs in both physical and virtual network environments;
• released McAfee Total Protection for Internet Gateways. One purchase gets Web, mail and network DLP protection to be deployed on McAfee appliances, providing advanced threat protection with acquisition cost savings of 50%;
• research firm Gartner has placed McAfee in the leaders quadrant in its Magic Quadrant for Endpoint Protection Platforms. In addition, McAfee was named a leader in two reports from Forrester Research "The Forrester Wave: Web Filtering, Q2 2009" and "The Forrester Wave: Email Filtering, Q2 2009."

At the same time as the results, McAfee announced the acquisition of the privately owned MX Logic for $140 million with an additional $30 million contingent upon achieving certain performance milestones.

MX Logic is the world’s leading independent SaaS provider of on-demand email, Web security and archiving solutions with nearly 40,000 customers and four million end users.

McAfee also announced that its expects third quarter net revenues of $475 million to $495 million.

Guest Article by Neil Camp