Sourcefire's profit declines in fourth quarter

February 23, 2011|By Gus G. Sentementes, The Baltimore Sun

Shares of Sourcefire Inc. fell 8 percent Wednesday as the Columbia-based provider of cybersecurity technology reported that fourth-quarter earnings fell by a third compared with the previous year.

The company's net income declined to $4.4 million in the quarter that ended Dec. 31, compared with $6.7 million a year earlier. Sourcefire's quarterly revenues rose by 8 percent, to $38 million, compared with $35.3 million in the fourth quarter of 2009.

For all of 2009, Sourcefire's profit was $20 million, compared with $8.9 million in 2009, while revenues climbed more than $3 million to $38 million. The company's share price closed Wednesday at $22.70, a decline of $1.97.

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