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Secure year for Shannon firm

This article is from page 16 of the 2007-11-20 edition of The Clare People. OCR mistakes are to be expected so download the original SWF or the rendered page 16 JPG

SHANNON-based internet security firm RSA Security Ireland Ltd re- corded a profit before tax of €17.6 million last year.

The company had a turnover of $145 million. an increase on its $120 million turnover in 2005.

RSA employs 43 people with 31 employed in production and 12 in administration with staff costs com- Pac KO MMM seb NEE(OyIe

The company was acquired by EMC Corporation on 15 September PAU eroy

According to a statement accom- panying the accounts, “the principal activity of the company is the manu-

facture, licensing and sale of elec- tronic security solutions”.

Turnover for the year shows an in- crease of 20 per cent over the pre- vious year and this together with reduced overhead costs contributed to a year on year increase in profit before tax of 20 per cent.

Profit before taxation was $17.6 million for the year. At 31 December 2006, the balance sheet indicates a sound financial standing with share- holders funds of $16,664,869 and cash reserves of $57.78 million.

The directors believe that future total revenue will be influenced by a number of major factors: as new, lower cost remote access technolo- gies become available and as em-

ployment rates increase.

The statement adds: “We believe that governmental regulations re- garding the access to and distribu- tion of private information will drive demand for the company’s products.

“We believe that as national govern- ments proceed with increased aware- ness and funding of cybersecurity issues and focus on e-security, the company may benefit with increased revenue.

“However, information technology budgets continue to be constrained, and the continued uncertainty in the economy and global affairs may af- fect revenue generated from the sales of products in future quarters,’ the company states.

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