Boston, MA 02/11/2014 (wallstreetpr) – Qualys Inc. (NASDAQ:QLYS) a leading provider of cloud security and compliance solutions has announced its full year financial results for F2013 and Q4. The full year results indicated solidness going forward something that shareholders should be proud of having bagged more than 6,700 customers for its leading security and compliance solution. The company recorded revenues for the fourth quarter totaling $29 million with a GAAP net income of $45,000 and non GAAP net income of $1.7 million.
The financial results for the fourth quarter were mostly driven by the increasing awareness around cyber security issues with the growing need for the protection of IT infrastructures. The strong growth in web application Scanning and policy compliance has greatly influenced the company’s outcome in the industry.
Qualys financial highlights
The company’s revenue for the fourth quarter grew by 18% compared to F2012 fourth quarter earnings of $24.7 million to clock in at highs of $29 million as earlier highlighted. The increased growth in sales of customer subscription as well as the massive subscription renewals and upsells of additional subscription caused the increase in the company’s total revenue.
Four quarter bookings clocked in at $119 million as of December 31, 2013 an increase of $17.8 million or 18% compared to $101.2 million recorded in f2012. Sales of subscriptions to new customers caused the improvement in the four quarter bookings as well as subscription renewals. Qualys deferred revenues increased by 19.5% to a high of $67.5 million as of December 31, 2013 compared to $56.5 million that was recorded in December 31, 2012.
Qualys gross profit for the fourth quarter rose by 14% from the $19.7 million that was achieved in F2012 to a high of $22.5 million in F2013. The fourth quarter saw the gross margin coming in at 78% compared to 80% same quarter a year ago.
The company’s operating income for the fourth quarter decreased from a high of $1.6 million same quarter in F2012 to lows of $0.2 million. The Non-GAAP operating income for the fourth quarter also dropped from highs of $2.5 million in 2012 to $1.9 million in F2013.
Qualys Inc. (NASDAQ:QLYS) net income for the fourth quarter stood at $45,000 translating to $0.00 per diluted share. Compared to net income of $1.2 million that was recorded in F2012, revenues for full year came in at $118 million an improvement of 18% with gross profit also growing by 14% to clock in at $83.3 million.
