netForensics Closes out Strong 1st Quarter 2010; Customer Adoption of SIEM in the Cloud

EDISON, N.J., April 14 /PRNewswire/ -- netForensics, Inc., a leader in the Security Information Management market, today announced that the company completed a very strong first quarter, exceeding revenue targets propelled by customer adoption of SIEM in the Cloud.  Following Q4 '09, the company's most successful quarter in its ten year history, the first three months of 2010 continued this upward momentum with overall bookings up 40% as compared to Q1 2009.

"This was one of those quarters where everything came together exceptionally well," said netForensics' CEO Dale Cline. "As a direct result of our MSSP partners delivering SIEM in the Cloud and nFX Cinxi One continuing to gain notoriety as the cost effective approach for addressing security challenges, we exceeded our revenue targets and expanded our customer base.  This was a terrific start to the year."

In addition to solid revenue performance, netForensics' first quarter contained an impressive array of product, customer and company accomplishments including the following:

• 95%+ Renewal Rate; netForensics renewed 95 percent of customers scheduled for renewal in Q1, demonstrating their high levels of satisfaction with netForensics' products and services.
• Customer Base Expanded; Added customers worldwide in primary markets such as MSSP, government, healthcare and telecommunications.
• New Product Version; New release of nFX Cinxi One incorporates the latest digital signing and encryption technologies into the industry's most comprehensive log management solution. Read more>
• Product Testing for Federal Government; nFX Cinxi One v.4.1 appliances were accepted into Common Criteria Evaluation Assurance Level (EAL) 2+ certification. As a key distinction that vendors to government agencies must carry, EAL certification represents netForensics' commitment to building solutions for federal government. Read more>
• Continued Accolades for nFX Cinxi One; Received Network Products Guide 2010 Product Innovation Award for excellence and vision in delivering best of breed technology. Read more>
• Federal User Group Announcement; On June 9th-10th Federal customers can join their peers and the netForensics' executive team for education, strategy, training and more.
• Awards for netForensics Management; netForensics CEO, Dale Cline, was appointed to the New Jersey Technology Council (NJTC) Advisory Board as well as to the Rutgers University CEO Roundtable.  Tracy Hulver, Executive Vice President for Products and Marketing, was named by CRN's Everything Magazine a 2010 Security Superstar, and has also been selected to speak at InfraGard / Deloitte Cloud & Virtualization Symposium on April 22nd.

About netForensics

netForensics security information and event management solutions enable organizations of all sizes to rapidly identify and respond to threats and adhere to ever-changing compliance regulations. Our software and appliance products collect and centralize volumes of event log data to deliver accurate, actionable, real-time security intelligence. For more information, visit www.netforensics.com/, read the blog or follow us on Twitter.

SOURCE netForensics, Inc.