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WatchGuard reports improved financials in third quarter

Veronica C. Silva | Nov. 20, 2012
Concern among AP firms for enterprise security helped boost quarterly performance.

Now more than ever, enterprises across the world are showing growing concern for enterprise security, and WatchGuard Technologies' latest financial performance is one indication of this.

WatchGuard, a unified threat management (UTM) player, said its latest quarterly results were boosted by global demand for some of its products and services, particularly for its UTM appliances.

Its 2012 third quarter financial performance was up again for the seventh consecutive quarter of double-digit year-over-year (YoY) growth, the company said. For the Asia Pacific region, growth was recorded at 42 percent YoY compared to the Americas' 17 percent.

WatchGuard produces the enterprise-class XTM8, 10, and 20 Series of firewall targeted at mid-sized and large distributed enterprises. For these products, the company reported a "significantly higher rate of growth" for the third quarter.

But WatchGuard said that much of the success of its last quarter was attributed to the newly updated XTM 5 Series UTM appliances, which, within two months of availability, replaced the previous generation of XTM 5 Series.

Rapid deployment

"WatchGuard decided five years ago to base our UTM products on industry standard hardware," said Scott Robertson, vice president, WatchGuard Technologies, Asia Pacific. "This lets us move our UTM technology quickly and efficiently to newly emerging high-performance platforms, as we demonstrated in Q3 with our high-selling 5 Series. These high-performance products have proven extremely popular with customers."

To help companies deploy cloud-based UTM solutions, WatchGuard recently added RapidDeploy configuration utility which can configure a firewall all by itself. WatchGuard said it is the industry's first self-configuring UTM security appliance, which makes IT security professionals' work easier since they do not have to be on-site to pre-configure the UTM appliance.

WatchGuard said this self-configuring capability will put them ahead of the competition and boost its revenue performance further.  

Added Robertson: "More and more businesses in the Asia Pacific region are starting to understand the benefit of managing a large network from one centralised console; other solutions are just not able to compete with our ease of use."


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