SAN DIEGO, Oct. 3, 2001 - Websense Inc. (NASDAQ: WBSN), the world's
leading provider of employee Internet management (EIM) software, today
announced it expects pro forma earnings results for the third quarter
ending Sept. 30, 2001, to be higher than originally anticipated and in
excess of $0.06 per share. These results would be substantially better
than the current consensus pro forma estimate of $0.02 per share.
Websense also anticipates revenue for the third quarter to exceed $9.5
million, representing sequential quarterly growth of approximately 16
percent, and total deferred revenue to exceed $35 million. This would
generate more than $5 million in Q3 positive cash flow. With this third
quarter contribution, Websense expects to have approximately $94 million
in cash and cash equivalents on its balance sheet at Sept. 30, 2001
(approximately $4.10 per share) and no debt.
"Our subscription business model, by which customers subscribe to our
database on a pre-paid, one-, two- or three-year basis, insulates
Websense to many of the difficulties that other software companies are
experiencing at this time," said John B. Carrington, Websense Inc.
chairman and CEO. "We continue to see steady demand for our core
product, Websense Enterprise. We believe that Websense's financial
viability makes our software appealing to customers who need stability
from their suppliers to ensure that services they have purchased are
provided over the long term. It also appears that companies need an EIM
system more than ever before - and customers choose strong suppliers in
a difficult economy."
The company will provide a more detailed outlook during its third-
quarter conference call, scheduled for Oct. 23, 2001, at 4:30 p.m.
Eastern Standard Time.
About Websense Inc.
Websense Inc. (NASDAQ: WBSN) is the worldwide leader of employee
management (EIM) solutions. Websense Enterprise software enables
businesses to manage how their employees use the Internet. This supports
an organization's efforts to improve employee productivity, conserve
network bandwidth and storage costs, and mitigate legal liability. As of
June 30, 2001, the company serves more than 14,000 customers worldwide,
ranging in size from 100-person firms to global-sized corporations.
These include 250 of the Fortune 500, 69 of the Nikkei 225 and 42 of the
FTSE 100, encompassing more than 8.9 million customer seats, pre-paid on
a subscription basis.
Websense is listed on the year 2001 Software 500 ranking and has been
honored by the Deloitte & Touche "Technology Fast 50" program. The
company also has strategic technology relationships with CacheFlow
(NASDAQ: CLFO), Check Point (NASDAQ: CHKP), Cisco (NASDAQ: CSCO),
Inktomi, Microsoft (NASDAQ: MSFT), Network Appliance (NASDAQ: NTAP), and
For more information, visit http://www.websense.com
Except for the historical information contained herein, this press
release contains forward-looking statements, including statements
containing the words "planned," "expects," "believes," "strategy,"
"opportunity," "anticipates" and similar words. Such forward-looking
statements are subject to known and unknown risks, uncertainties or
other factors that may cause the company's actual results to be
materially different from historical results or any results expressed or
implied by such forward-looking statements. We assume no obligation to
update any forward-looking statements to reflect events or circumstances
arising after the date hereof. The potential risks and uncertainties
which could cause actual growth and results to differ materially include
but are not limited to, customer acceptance of the company's services,
products and fee structures, the success of the company's brand
development efforts, the volatile and competitive nature of the Internet
industry, and changes in domestic and international market conditions,
and foreign exchange rates. Further information on the factors and risks
that could affect Websense's business, financial condition and results
of operations are included under the "Risk Factors" or "Factors
Affecting our Operating Results" sections of Websense's public filings
with the Securities and Exchange Commission, available at
Tel: ++44(0)20 8449 8292
Fax: ++44(0)20 8440 4449
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