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NEWS RELEASE
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FOR IMMEDIATE RELEASE
CONTACT:
CONTACT:
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Suzanne M. Dickson
Symark Software (818) 575-4041 |
Mike Bradshaw Connect Public Relations (801) 373-7888 |
SYMARK ENDS 2003 WITH STRONG GROWTH AND BALANCE SHEET
Revenues Increase by 17% for Second Half
AGOURA HILLS, Calif. – February 12, 2004
– Symark today announced that revenues for the second half of 2003 grew by 17%
compared to the same period in 2002. The 2003 fiscal year marked the 9th
straight year of growth for Symark.
“Despite the economic challenges that continued
in 2002, revenue grew by 17% in the second half of the year. Additionally,
Symark continues to be profitable even with on-going investments in several
areas including product development, sales, marketing, and international. In
fact, 2003 international revenues increased 51%,” said Bob Sommers, Chairman and
Co-CEO at Symark. “Much of our sales were driven by companies adopting our
solutions to meet regulatory compliance including, Sarbanes-Oxley and HIPAA.”
According to Alex Reyes, UNIX Systems
Administrator at Health First, “HIPAA compliance is a consideration for us. We
have to think about the kind of interaction our support desk has with restricted
accounts, then make sure it is secure. Symark PowerBroker helps ensure secure
access by protecting the root account while enabling our support desk to create
and delete accounts, reset passwords, and more, and then keeps detailed logs so
we have a clear audit trail.”
2003 Highlights
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Record revenue
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Strong cash flow and balance sheet
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Symark named to Software Magazine’s 21st Annual Software 500
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Symark listed in LA Business Journal Fastest Growing Private Companies
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PowerBroker selected by SC Magazine as Best of 2003 products for access control
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Major distribution partners signed in Europe, and Latin America.
Business Outlook
Sommers comments, “As we enter 2004, we believe
the increasing adoption of Linux and regulatory compliance by Global 2000
businesses will fuel another growth year for Symark.”
About Symark
Founded in 1985, Symark is the leading provider
of UNIX and Linux security solutions for Global 2000 businesses. Symark
PowerBroker® enables granular delegation of administrative privileges while
restricting root account access. Symark PowerPassword® provides login and
password policy management with stronger passwords, aging, and history. Both
products support the broadest range of UNIX and Linux platforms, central
administration, and detailed audit logs. Symark’s products strike the perfect
balance between protection and productivity by preventing damage or abuse by
trusted users, whether intentional or not. Symark offers extensive expertise in
enterprise computing security, and its products are backed by unmatched
technical support. For more information, visit us at www.symark.com.
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NOTE TO EDITORS: If you would like additional information on Symark and its products, please view the Symark Web site at www.symark.com. All prices noted are in US dollars and are valid only in the United States.
Symark and the Symark logo are trademarks or registered trademarks, in the United States and certain other countries, of Symark. Additional company and product names may be trademarks or registered trademarks of the individual companies and are respectfully acknowledged.
