Aladdin Knowledge Systems, a provider of information security solutions, has reported a net loss of $345,000, or $0.02 per diluted share, for the third quarter of 2008, compared to a net income of $4.33 million, or $0.30 per diluted share, in the same quarter of 2007.
For the third quarter of 2008, total revenues were $31.36 million, compared to $26.12 million in the same quarter of 2007. Gross profit was $22.35 million, compared to $20.13 million in the prior-year period.
For the nine-month period ended September 30, 2008, total revenues were $87.76 million, compared to $76.76 million in the same quarter of 2007. Gross profit was $64.77 million, compared to $59.52 million in the same period of 2007. Net income was $3.46 million, or $0.24 per diluted share, compared to $12.08 million, or $0.82 per diluted share, in the corresponding period of 2007.
Yanki Margalit, chairman and CEO of Aladdin Knowledge Systems, said: Our strong third quarter results demonstrate that the continued execution of our strategy creates long-term growth for the company and increased shareholder value. These record results, combined with the ongoing performance of our core business and our pipeline, raises our confidence and we have revised our annual guidance accordingly.