Websense News Releases

Websense Signs Definitive Agreement to be Acquired by Vista Equity Partners

News Release Archive — Mon, 20 May 2013 12:05:00 GMT

Shareholders to receive $24.75 per share in cash in transaction valued at approximately $1 billion SAN DIEGO, May 20, 2013 /PRNewswire/ -- Websense, Inc. (NASDAQ: WBSN) a global leader in protecting organizations from the latest cyber-attacks and data theft, today announced that it has entered into a definitive agreement to be acquired by Vista Equity Partners ("Vista"), a leading private equity firm focused on investments in software, data and technology-enabled businesses. "After detailed discussions with several potential acquirers, the Websense board of directors is pleased to approve this agreement," said John Carrington, chairman of the Websense board of directors. "It provides stockholders with immediate and substantial cash value that reflects our assessment of the fair value of the company." Under the terms of the agreement, Websense stockholders will receive $24.75 in cash for each share of Websense common stock they hold, representing a premium of approximately 29 percent over Websense's closing price on May 17, 2013 and a 53 percent premium to Websense's average closing price over the past 60 days. The Websense board of directors unanimously recommends that the company's stockholders tender their shares in the tender offer. "Vista shares a similar vision for the company, including a dedication to developing and delivering best-in-class cyber security to our customers," said John McCormack, Websense CEO. "Vista brings an operational discipline that will enable us to continue to invest in the business and technology innovation." "We are long-term investors in enterprise software and data companies that are committed to being leaders in their markets," said Robert F. Smith, CEO and founder of Vista Equity Partners. "We are impressed with Websense's market-leading product suite and the compelling value proposition it offers to its customers. We look forward to working with the company to enable it to reach its full potential." Upon closing, Websense will become a privately held company. Websense senior management is expected to continue with the company and its headquarters are expected to remain in San Diego. Under the terms of the agreement, an affiliate of Vista will commence a tender offer for all of the outstanding shares of the Websense common stock. Closing of the transaction is conditioned upon, among other things, satisfaction of a minimum tender condition, clearance under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976, receipt of funding under the financing agreements (solely with respect to the tender offer) and other customary closing conditions. In the event that the minimum tender condition is not met, and in certain other circumstances, the parties have agreed to complete the transaction through a one-step merger after receipt of stockholder approval. Websense expects the transaction to close before the end of the third quarter of 2013. BofA Merrill Lynch is serving as financial advisor to Websense. Cooley LLP is acting as Websense's legal advisor. Kirkland & Ellis LLP is acting as Vista's legal advisor. J.P. Morgan Securities LLC, RBC Capital Markets and Guggenheim Partners have agreed to provide debt financing in connection with the transaction. For further information regarding all terms and conditions contained in the definitive merger agreement, please see Websense's Current Report on Form 8-K, which will be filed in connection with this transaction. About Websense, Inc. Websense, Inc. (NASDAQ: WBSN) is a global leader in protecting organizations from the latest cyber attacks and data theft. Websense TRITON comprehensive security solutions unify web security, email security, mobile security and data loss prevention (DLP) at the lowest total cost of ownership. Tens of thousands of enterprises rely on Websense TRITON security intelligence to stop advanced persistent threats, targeted attacks and evolving malware. Websense prevents data breaches, intellectual property theft and enforces security compliance and best practices. A global network of channel partners distributes scalable, unified appliance- and cloud-based Websense TRITON solutions. Websense TRITON stops more threats, visit www.websense.com/proveit to see proof. To access the latest Websense security insights and connect through social media, please visit social.websense.com. For more information, visit www.websense.com and www.websense.com/triton . About Vista Equity Partners Vista Equity Partners, a U.S. based private equity firm with offices in San Francisco, Chicago and Austin, currently invests over $7 billion in capital committed to dynamic, successful technology-based organizations led by world-class management teams with long-term perspective. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies realizing their full potential. Vista's investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For further information please visit www.vistaequitypartners.com . Important Additional Information This press release is neither an offer to purchase nor a solicitation of an offer to sell shares of Websense. The tender offer for securities of Websense data described in this press release has not yet been commenced. The offer to buy securities of Websense described in this press release will be made only pursuant to the offer to purchase and related materials that Vista will file on Schedule TO with the SEC. At the same time or soon thereafter, Websense will file its recommendation of the tender offer on Schedule 14D-9 with the SEC. In connection with the proposed transaction, Websense will also file a proxy statement with the SEC. Additionally, Websense and Vista will file other relevant materials in connection with the proposed acquisition of Websense by Vista pursuant to the terms of the merger agreement. INVESTORS AND STOCKHOLDERS OF WEBSENSE ARE ADVISED TO READ THE SCHEDULE TO, THE SCHEDULE 14D-9, AND THE PROXY STATEMENT, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BEFORE THEY MAKE ANY DECISION WITH RESPECT TO THE TENDER OFFER OR MERGER, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES THERETO. Investors and stockholders may obtain free copies of the Schedule TO, Schedule 14D-9 and proxy statement, as each may be amended or supplemented from time to time, and other documents filed by the parties (when available), at the SEC's Web site at www.sec.gov or at Websense's Web site at www.websense.com . The Schedule TO, Schedule 14D-9 and proxy statement, as each may be amended or supplemented from time to time, and such other documents may also be obtained, when available, for free from Websense by directing such request via email to akauffman@websense.com , or in writing to Investor Relations at our corporate headquarters, at 10240 Sorrento Valley Road, San Diego, California 92121. Websense, Vista and their respective directors, executive officers and other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from Websense's stockholders in connection with the proposed transaction. Further, such persons may have direct or indirect interests in the proposed transaction due to, among other things, securities holdings, pre-existing or future indemnification arrangements, vesting of equity awards, or rights to severance payments or bonuses in connection with the proposed transaction. Information concerning the interests of these persons will be set forth in the Schedule 14D-9 and proxy statement relating to the proposed transaction when it becomes available. Statements in this press release that relate to future results and events are forward-looking statements made within the meaning of Section 21E of the Securities Exchange Act of 1934 based on Websense's current expectations regarding the proposed transaction. Actual results and events in future periods may differ materially from those expressed or implied by these forward-looking statements because of a number of risks, uncertainties and other factors. There can be no assurances that a transaction will be consummated. Other risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that the transaction may not be timely completed, if at all; that, prior to the completion of the transaction, if at all, Websense's business may experience significant disruptions due to transaction-related uncertainty or other factors that the parties are unable to successfully implement integration strategies; and other risks that are described in Websense's Annual Report on Form 10-K for the fiscal year ended December 31, 2012 and in its subsequently filed SEC reports. Websense does not undertake any obligation to update these forward-looking statements except to the extent otherwise required by law. Investor Contact: Media Contact: Avelina Kauffman The Abernathy McGregor Group Websense, Inc. Jim Lucas (858) 320-9364 (213) 630-6550 akauffman@websense.com (310) 994-6748 SOURCE Websense, Inc....(read more)

Websense Reports First Quarter 2013 Results

News Release Archive — Thu, 25 Apr 2013 20:05:00 GMT

- Record first quarter billings of $81.8 million, up 1.5 percent year-over-year - TRITON solution billings of $54.7 million comprised 67 percent of total billings - Company reiterates its 2013 annual guidance SAN DIEGO, April 25, 2013 /PRNewswire/ -- Websense, Inc. (NASDAQ: WBSN) today announced financial results for the first quarter of 2013. "Our first quarter results reflect the continued strength of our Websense ® TRITON ® solutions, which increased 11.6 percent year-over-year and represented 67 percent of total billings in the quarter," said John McCormack, Websense CEO. "We are particularly pleased with the 19 percent increase in transactions greater than $100k. This demonstrates the strength of our core business and the appeal of TRITON to our larger enterprise target customers. Our recent sales expansion is already showing benefits with an increased sales pipeline for the second quarter and the rest of the year. We remain confident in our ability to execute successfully on the growing market opportunity for advanced security solutions, and to deliver sustained and profitable billings growth." First Quarter 2013 GAAP Financial Highlights Revenues of $87.5 million, compared with $89.5 million in the first quarter of 2012. Software and service revenues of $80.1 million, compared with $82.0 million in the first quarter of 2012. Appliance revenues of $7.4 million, which consisted of approximately $6.5 million in current-period appliance sales and approximately $0.9 million of deferred appliance revenue primarily from pre-2011 appliance sales, compared with $7.5 million of appliance revenues in the first quarter of 2012, which consisted of approximately $5.8 million in current-period appliance sales and $1.7 million of deferred appliance revenue primarily from pre-2011 appliance sales. Operating income of $3.5 million, compared with $10.7 million in the first quarter of 2012, as we incurred increased operating expenses primarily related to our sales force expansion, which was substantially completed in the quarter. Benefit from income taxes of $0.3 million, compared with a provision for income taxes of $11.7 million in the first quarter of 2012. Net income of $2.8 million, or eight cents per diluted share, compared with a net loss of $1.8 million, or five cents per diluted share, in the first quarter of 2012. Weighted average diluted shares outstanding of 36.8 million, compared with 37.6 million in the first quarter of 2012. Cash flow from operations of $29.2 million, compared with $22.4 million in the first quarter of 2012. Quarter-end accounts receivable of $57.9 million, compared with $61.9 million at the end of the first quarter of 2012. Days billings outstanding of 64 days, compared with 69 days at the end of the first quarter of 2012. Deferred revenue of $395.4 million, compared with deferred revenue of $384.1 million at the end of the first quarter of 2012. First Quarter 2013 Non-GAAP 1 Financial Highlights Total billings of $81.8 million, an increase of 1.5 percent compared with the first quarter of 2012. Changes in currency exchange rates, compared with exchange rates prevailing in the first quarter of 2012, did not materially impact first quarter 2013 billings performance. TRITON solution billings of $54.7 million, an increase of 11.6 percent compared with the first quarter of 2012. Non-GAAP operating income of $10.0 million, compared with non-GAAP operating income of $17.8 million in the first quarter of 2012. Non-GAAP operating margin in the first quarter of 2013, calculated as a percentage of revenues, was 11.4 percent, compared with 19.9 percent in the first quarter of 2012. We incurred increased operating expenses in the first quarter of 2013 primarily related to our sales force expansion which was substantially completed in the quarter. Billings-based operating margin of 5.6 percent, compared with billings-based operating margin of 11.9 percent in the first quarter of 2012. Billings-based operating margin is calculated similar to revenue-based non-GAAP operating margin, but is computed using billings as the top-line measure and excludes deferred appliance costs to match current period sales activities with current period costs. A non-GAAP tax provision of $1.7 million, compared with a non-GAAP tax provision of $3.2 million in the first quarter of 2012, both based on an effective non-GAAP tax rate of 19.0 percent. Non-GAAP net income of $7.3 million, or 20 cents per diluted share, compared with $13.7 million, or 36 cents per diluted share, in the first quarter of 2012, as we incurred increased operating expenses primarily related to our sales force expansion, which was substantially completed in the quarter. Summary Metrics Millions, except percentages, number of transactions, duration, and days billings outstanding Q1'13 Q1'12 Y/Y Chg Total billings $81.8 $80.6 1.5% U.S. billings $39.0 $37.5 4.0% International billings $42.8 $43.1 -0.7% TRITON solution billings 2 $54.7 $49.0 11.6% Appliance billings $6.9 $6.0 15.0% Number of transactions >$100K 144 121 19.0% Average contract duration (months) 23.3 25.5 -8.6% Days billings outstanding (DSOs) 64 69 -5 days Cash and cash equivalents $83.7 $70.3 19.1% Balance on revolving credit facility $68.0 $68.0 - Share repurchases ($) $5.0 $20.0 -75.0% 1. A detailed description of the company's non-GAAP financial measures appears under "Non-GAAP Financial Measures" and a full reconciliation of GAAP to non-GAAP results is included at the end of this news release in the tables "Reconciliation of GAAP to Non-GAAP Financial Measures." 2. TRITON solutions include the TRITON family of security gateways for web, email, mobile, and data security (including related appliances and technical support subscriptions), Websense Data Security Suite and cloud-based security solutions. Non-TRITON solutions include web filtering products, including Websense Web Filtering, Websense Web Security Suite and related appliances, plus SurfControl email security products. Outlook for the Second Quarter and Fiscal Year 2013 Websense provides guidance on anticipated financial performance for the second quarter and the year based on an assessment of the current business environment, historical seasonal business trends, and prevailing exchange rates between the U.S. dollar and other major currencies. Annual guidance is updated each quarter with the release of quarterly results. In providing guidance, the company emphasizes that all forward-looking statements are based on current expectations, including average contract duration between 24 and 26 months and prevailing currency exchange rates of $1.28 for the Euro and $1.52 for the Pound Sterling. The company disclaims any obligation to update the statements as circumstances change. Millions, except percentages and per share amounts Q2'13 Outlook 2013 Outlook Total billings $86.5 – 91.5 $374 – 394 Appliance billings (% of total billings) 7 – 8% 7 – 8% Revenues $86 – 89 $351 – 361 Non-GAAP gross profit margin Approximately 83% Approximately 83% Non-GAAP operating margin 9 – 12% 11 – 13% Billings-based non-GAAP operating margin 9 – 14% 17 – 20% Non-GAAP earnings per diluted share $0.17 – 0.21 $0.78 – 0.93 Non-GAAP effective tax rate 19% 19% Average diluted shares outstanding Approximately 37 Approximately 37 Cash flow from operations $9 – 11 $66 – 76 Capital expenditures Approximately $4 $15 – 17 Management further indicates: Expected stock repurchases of approximately $5.0 million per quarter in 2013. Non-cash items related to the recognition of revenue and costs associated with pre-2011 appliance billings: Remaining deferred revenue of $1.9 million from pre-2011 appliance billings (as of March 31, 2013) that will continue to be recognized ratably according to the original subscription periods, including $0.6 million to be recognized in the second quarter of 2013 (compared with $1.6 million in the second quarter of 2012). Remaining deferred costs of $1.0 million from pre-2011 appliance billings (as of March 31, 2013) that will continue to be recognized ratably according to the original subscription periods, including $0.3 million to be recognized in the second quarter of 2013 (compared with $0.7 million in the second quarter of 2012). On January 1, 2011, Websense adopted Accounting Standards Update (ASU) 2009-13 (Multiple Deliverable Revenue Arrangements) and ASU 2009-14 (Certain Revenue Arrangements That Include Software Elements), which requires the immediate recognition of appliance revenues upon sale. Prior to January 1, 2011, the company recognized revenue and costs from appliance sales ratably according to the original related software subscription terms. The schedules below summarize the actual and expected recognition of remaining deferred appliance revenues and costs by quarter for 2012 and 2013: 2012 Summary of Amounts Related to pre-2011 Appliance Sales Millions Deferred balances as of 12/31/11 (actual) 2012 Recognition Schedule (actual) Remaining deferred balances as of 12/31/12 (actual) Q1'12 Q2'12 Q3'12 Q4'12 2012 Revenue $8.6 $1.7 $1.6 $1.4 $1.2 $5.9 $2.7 Costs $4.0 $0.8 $0.7 $0.6 $0.5 $2.6 $1.4 2013 Summary of Amounts Related to pre-2011 Appliance Sales Millions Deferred balances as of 12/31/12 (actual) 2013 Recognition Schedule Remaining deferred balances as of 12/31/13 (expected) Q1'13 (actual) Q2'13 (expected) Q3'13 (expected) Q4'13 (expected) 2013 (expected) Revenue $2.7 $0.8 $0.6 $0.5 $0.3 $2.2 $0.5 Costs $1.4 $0.4 $0.3 $0.2 $0.1 $1.0 $0.4 Conference Call Details Management will host a conference call and simultaneous webcast to discuss the financial results and outlook today, April 25, at 2 p.m. PDT / 5 p.m. EDT. To participate in the conference call, investors should dial (866) 757-5630 (domestic) or 707-287-9356 (international) 10 minutes prior to the scheduled start of the call. A simultaneous audio-only webcast of the call may be accessed on the internet at investor.websense.com . An archive of the webcast will be available on the company's website through June 30, 2013, and a recorded replay of the call will be available for one week at 855-859-2056 or 404-537-3406, pass code 22448863. Non-GAAP Financial Measures This news release provides financial measures for non-GAAP gross profit, operating expenses, operating margin, income from operations, provision for income taxes, net income, and diluted earnings per share that are not calculated in accordance with GAAP. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding performance that enhances management's and investors' ability to evaluate the company's operating results, trends, and prospects and to compare current operating results with historical operating results. Reconciliations of the GAAP and non-GAAP financial measures for the first quarters of both years are provided at the end of this news release. This news release also includes financial measures for various categories of billings, billings operating margin and other billings-related measures that are numerical measures that cannot be calculated in accordance with GAAP. Billings-based non-GAAP operating margin is calculated similar to revenue-based non-GAAP operating margin, but uses billings as the top-line measure and excludes deferred appliance costs to match current period sales activities with current period costs. Websense provides these measurements in reporting financial performance because these measurements provide a consistent basis for understanding the company's sales activities in the current period. The company believes that these measurements are useful to investors because the GAAP measurements of revenues and deferred revenue in the current period include subscription contracts commenced in prior periods. The rollforward of deferred revenue (which includes billings and revenues) for the first quarter of 2013 is set forth at the end of this news release. About Websense, Inc. Websense, Inc. (NASDAQ: WBSN) is a global leader in protecting organizations from the latest cyber attacks and data theft. Websense TRITON comprehensive security solutions unify web security, email security, mobile security and data loss prevention (DLP) at the lowest total cost of ownership. Tens of thousands of enterprises rely on Websense TRITON security intelligence to stop advanced persistent threats, targeted attacks and evolving malware. Websense prevents data breaches, intellectual property theft and enforces security compliance and best practices. A global network of channel partners distributes scalable, unified appliance- and cloud-based Websense TRITON solutions. Websense TRITON stops more threats, visit www.websense.com/proveit to see proof. To access the latest Websense security insights and connect through social media, please visit social.websense.com. For more information, visit www.websense.com and www.websense.com/triton . Follow Websense on Twitter: www.twitter.com/websense Join the discussion on Facebook: www.facebook.com/websense This news release contains forward-looking statements that involve risks, uncertainties, assumptions, and other factors which, if they do not materialize or prove correct, could cause Websense's results to differ materially from historical results or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including financial estimates; the statements of John McCormack; statements about our expected success of our strategic initiatives and selling products; statements regarding market share gains and trends; statements about the effectiveness of our products; statements about customer acceptance of our products and services; billings, revenues, and growth trends; statements regarding expected repurchases of our common stock; and statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," and similar words. The potential risks and uncertainties that contribute to the uncertain nature of these statements include, among others, risks associated with product performance, launching new product offerings, products and fee structures in a changing market, the success of Websense's brand development efforts, the volatile and competitive nature of the internet and security industries, changes in domestic and international market conditions, fluctuations in currency exchange rates and impacts of macro-economic conditions on our customers, ongoing compliance with the covenants in the company's credit facility, changes in accounting interpretations, and the other risks and uncertainties described in Websense's public filings with the Securities and Exchange Commission, available at www.websense.com/investors . Websense assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made. The following financial information should be read in conjunction with the audited financial statements and notes thereto, included in Websense, Inc.'s most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission. INVESTOR CONTACT: MEDIA CONTACT: Avelina Kauffman Patricia Hogan Websense, Inc. Websense, Inc. (858) 320-9364 (858) 320-9393 akauffman@websense.com phogan@websense.com Websense, Inc. Consolidated Statements of Operations (Unaudited and in thousands, except per share amounts) Three Months Ended March 31, 2013 2012 Revenues: Software and service $ 80,146 $ 82,008 Appliance 7,349 7,516 Total revenues 87,495 89,524 Cost of revenues: Software and service 11,433 10,975 Appliance 2,939 3,187 Total cost of revenues 14,372 14,162 Gross profit 73,123 75,362 Operating expenses: Selling and marketing 43,657 39,027 Research and development 16,716 15,290 General and administrative 9,263 10,318 Total operating expenses 69,636 64,635 Income from operations 3,487 10,727 Interest expense (634) (656) Other income (expense), net (379) (252) Income before income taxes 2,474 9,819 Provision (benefit) for income taxes (298) 11,652 Net income (loss) $ 2,772 $ (1,833) Basic net income (loss) per share $ 0.08 $ (0.05) Diluted net income (loss) per share $ 0.08 $ (0.05) Weighted average shares - basic 36,461 37,630 Weighted average shares - diluted 36,823 37,630 Financial Data: Total deferred revenue $ 395,353 $ 384,076 Websense, Inc. Consolidated Balance Sheets (In thousands) March 31, 2013 December 31, 2012 Assets (Unaudited) Current assets: Cash and cash equivalents $ 83,687 $ 64,584 Accounts receivable, net 57,925 89,071 Income tax receivable/prepaid income tax 3,900 3,989 Current portion of deferred income taxes 27,914 28,933 Other current assets 14,748 13,249 Total current assets 188,174 199,826 Cash and cash equivalents - restricted 674 662 Property and equipment, net 20,405 18,901 Intangible assets, net 16,510 17,940 Goodwill 372,445 372,445 Deferred income taxes, less current portion 8,154 7,335 Deposits and other assets 6,459 7,352 Total assets $ 612,821 $ 624,461 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 4,157 $ 7,941 Accrued compensation and related benefits 23,370 24,981 Other accrued expenses 11,779 12,413 Current portion of income taxes payable 3,577 694 Current portion of deferred tax liability 42 42 Current portion of deferred revenue 241,960 243,945 Total current liabilities 284,885 290,016 Other long term liabilities 2,987 2,044 Income taxes payable, less current portion 9,644 10,514 Secured loan 68,000 68,000 Deferred tax liability, less current portion 2,021 2,026 Deferred revenue, less current portion 153,393 157,112 Total liabilities 520,930 529,712 Stockholders' equity: Common stock 584 580 Additional paid-in capital 444,101 443,100 Treasury stock, at cost (443,145) (436,426) Retained earnings 93,368 90,596 Accumulated other comprehensive loss (3,017) (3,101) Total stockholders' equity 91,891 94,749 Total liabilities and stockholders' equity $ 612,821 $ 624,461 Websense, Inc. Consolidated Statements of Cash Flows (Unaudited and in thousands) Three Months Ended March 31, 2013 2012 Operating activities: Net income (loss) $ 2,772 $ (1,833) Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation and amortization 4,655 4,906 Share-based compensation 5,133 5,014 Unrealized loss on foreign exchange 628 144 Excess tax benefit from share-based compensation (49) (130) Changes in operating assets and liabilities: Accounts receivable 30,507 18,968 Other assets (481) 321 Accounts payable (5,502) (3,206) Accrued compensation and related benefits (1,491) (680) Other liabilities 929 (483) Deferred revenue (5,710) (8,962) Income taxes payable and receivable/prepaid (2,192) 8,297 Net cash provided by operating activities 29,199 22,356 Investing activities: Change in restricted cash and cash equivalents (1) (17) Purchase of property and equipment (2,851) (2,784) Net cash used in investing activities (2,852) (2,801) Financing activities: Principal payments on secured loan - (5,000) Principal payments on capital lease obligation - (587) Proceeds from exercise of stock options 88 1,383 Excess tax benefit from share-based compensation 49 130 Tax payments related to restricted stock unit issuances (1,715) (1,475) Purchase of treasury stock (5,099) (20,490) Net cash used in financing activities (6,677) (26,039) Effect of exchange rate changes on cash and cash equivalents (567) 629 Increase (decrease) in cash and cash equivalents 19,103 (5,855) Cash and cash equivalents at beginning of period 64,584 76,201 Cash and cash equivalents at end of period $ 83,687 $ 70,346 Cash paid during the period for: Income taxes including interest and penalties, net of refunds $ 1,146 $ 2,997 Interest $ 543 $ 607 Non-cash financing activities: Change in operating assets and liabilities for unsettled purchase of treasury stock and exercise of stock options $ (99) $ 313 Capital lease obligation incurred for a software license arrangement $ 1,747 $ - Websense, Inc. Rollforward of Deferred Revenue (Unaudited and in thousands) Deferred revenue balance at December 31, 2012 $ 401,057 Net billings during first quarter 2013 81,786 Less revenue recognized during first quarter 2013 (87,495) Translation adjustment 5 Deferred revenue balance at March 31, 2013 $ 395,353 Websense, Inc. Reconciliation of GAAP to Non-GAAP Financial Measures (Unaudited and in thousands, except per share amounts) Three Months Ended March 31, 2013 2012 GAAP gross profit $ 73,123 $ 75,362 Amortization of acquired technology (1) 10 539 Share-based compensation (2) 258 338 Gross profit adjustment 268 877 Non-GAAP gross profit $ 73,391 $ 76,239 GAAP operating expenses $ 69,636 $ 64,635 Amortization of other intangible assets (1) (1,353) (1,512) Share-based compensation (2) (4,875) (4,675) Operating expense adjustment (6,228) (6,187) Non-GAAP operating expenses $ 63,408 $ 58,448 GAAP income from operations $ 3,487 $ 10,727 Gross profit adjustment 268 877 Operating expense adjustment 6,228 6,187 Non-GAAP income from operations $ 9,983 $ 17,791 GAAP provision (benefit) for income taxes $ (298) $ 11,652 Provision (benefit) for income taxes adjustment (3) 2,014 (8,433) Non-GAAP provision for income taxes $ 1,716 $ 3,219 GAAP net income (loss) $ 2,772 $ (1,833) Gross profit adjustment 268 877 Operating expense adjustment 6,228 6,187 Amortization of deferred financing fees (4) 59 59 Provision (benefit) for income tax adjustment (2,014) 8,433 Non-GAAP net income $ 7,313 $ 13,723 GAAP net income (loss) per diluted share $ 0.08 $ (0.05) Non-GAAP adjustments as described above per share, net of tax (1-4) 0.12 0.41 Non-GAAP net income per diluted share $ 0.20 $ 0.36 (1) Amortization of acquired technology and other intangible assets. When conducting internal development of intangible assets (including developed technology, customer relationships, trademarks, etc.), GAAP accounting rules require that we expense the costs as incurred. In the case of acquired businesses, however, we are required to allocate a portion of the purchase price to the accounting value assigned to intangible assets acquired and amortize this amount over the estimated useful lives of the acquired intangibles. The acquired company, in most cases, has itself previously expensed the costs incurred to develop the acquired intangible assets, and the purchase price allocated to these assets is not necessarily reflective of the cost we would incur in developing the intangible asset. We eliminate these amortization charges from our non-GAAP operating results to provide better comparability of pre- and post-acquisition operating results and comparability to results of businesses utilizing internally developed intangible assets. (2) Share-based compensation. Consists of non-cash expenses for employee stock options, restricted stock units and our employee stock purchase plan determined in accordance with the fair value method of accounting for share-based compensation. When evaluating the performance of our business and developing short and long-term plans, we do not consider share-based compensation charges. Although share-based compensation is necessary to attract and retain quality employees, our consideration of share-based compensation places its primary emphasis on overall shareholder dilution rather than the accounting charges associated with such grants. Because of varying available valuation methodologies, subjective assumptions and the variety of award types, we believe that the exclusion of share-based compensation allows for more accurate comparison of our financial results to previous periods. In addition, we believe it is useful to investors to understand the specific impact of the application of the fair value method of accounting for share-based compensation on our operating results. (3) Non-GAAP effective tax rate. The company's annual non-GAAP effective tax rate is calculated by dividing the company's estimated annual non-GAAP tax expense by its estimated annual non-GAAP taxable income. The company's estimated non-GAAP taxable income is determined by adjusting its estimated GAAP taxable income for its non-GAAP adjustments on a country-by-country basis. The company determines its annual estimated non-GAAP tax expense by adding together the estimated non-GAAP tax expense for each country based on each country's applicable tax rate. The company determines its interim non-GAAP effective tax expense in accordance with the general principles of ASC 740, Accounting for Income Taxes. The company's non-GAAP effective tax rate is based on the company's anticipated long term annual non-GAAP tax expense divided by the company's long term annual non-GAAP taxable income on a country by country basis. (4) Amortization of deferred financing fees. This is a non-cash charge that is disregarded by the company's management when evaluating our ongoing performance and/or predicting our earnings trends, and is excluded by us when presenting our non-GAAP financial measures. Further, we believe it is useful to investors to understand the specific impact of this charge on our operating results. Websense, Inc. Non-GAAP Billings Operating Margin Reconciliation (Unaudited and in thousands, except percentages) Three Months Ended March 31, 2013 2012 Billings: Software and service $ 74,935 91.6% $ 74,615 92.6% Appliance 6,851 8.4% 5,952 7.4% Total billings 81,786 100.0% 80,567 100.0% Non-GAAP cost of billings: Software and service 11,165 14.9% 10,098 13.5% Appliance (1) 2,594 37.9% 2,429 40.8% Total non-GAAP cost of billings 13,759 16.8% 12,527 15.5% Non-GAAP gross margin: Software and service 63,770 85.1% 64,517 86.5% Appliance 4,257 62.1% 3,523 59.2% Total non-GAAP gross margin 68,027 83.2% 68,040 84.5% Non-GAAP operating expenses: Selling and marketing 40,482 49.5% 35,734 44.4% Research and development 15,502 19.0% 14,019 17.4% General and administrative 7,424 9.1% 8,695 10.8% Total non-GAAP operating expenses 63,408 77.6% 58,448 72.6% Non-GAAP billings operating margin $ 4,619 5.6% $ 9,592 11.9% (1) Excluding deferred appliance expenses associated with pre-2011 appliance sales. The non-GAAP financial measures included in the tables above and in the tables on the preceding page are non-GAAP gross profit, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP provision for income taxes, non-GAAP net income and non-GAAP net income per diluted share, billings, non-GAAP cost of billings, non-GAAP gross margin and non-GAAP billings operating margin which adjust for the following items: acquisition related adjustments, share-based compensation expense, amortization of intangible assets, deferred expenses and certain other items. We believe the presentation of these non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, provides meaningful supplemental information regarding the company's operating performance for the reasons discussed below. Our management uses these non-GAAP financial measures in assessing the company's operating results, as well as when planning, forecasting and analyzing future periods. The annual operating plan approved by our Board of Directors is based upon non-GAAP financial measures and our management incentive plans also use non-GAAP financial measures as performance objectives. We believe that these non-GAAP financial measures also facilitate comparisons of the company's performance to prior periods and to our peers and that investors benefit from an understanding of these non-financial measures. SOURCE Websense, Inc....(read more)

Websense to Announce First Quarter 2013 Financial Results on April 25, 2013

News Release Archive — Wed, 03 Apr 2013 20:05:00 GMT

SAN DIEGO, April 3, 2013 /PRNewswire/ -- Websense, Inc. (NASDAQ: WBSN) today announced that it plans to release financial results for the first quarter of 2013 after the market close on Thursday, April 25, 2013. Management will host a conference call and simultaneous webcast to discuss the results at 5 p.m. EDT/2 p.m. PDT. To participate in the conference call, investors should dial 866-757-5630 (domestic) or 707-287-9356 (international) 10 minutes prior to the scheduled start of the call. A simultaneous audio-only webcast of the call may be accessed on the internet at investor.websense.com . For investors unable to participate in the live event, an archive of the webcast will be available on the company's website through June 30, 2013. A taped replay of the call will be available for one week at 855-859-2056 and 404-537-3406, pass code 22448863. About Websense, Inc. Websense, Inc. (NASDAQ: WBSN) is a global leader in protecting organizations from the latest cyber attacks and data theft. Websense TRITON comprehensive security solutions unify web security, email security, mobile security and data loss prevention (DLP) at the lowest total cost of ownership. Tens of thousands of enterprises rely on Websense TRITON security intelligence to stop advanced persistent threats, targeted attacks and evolving malware. Websense prevents data breaches, intellectual property theft and enforces security compliance and best practices. A global network of channel partners distributes scalable, unified appliance- and cloud-based Websense TRITON solutions. Websense TRITON stops more threats, visit www.websense.com/proveit to see proof. To access the latest Websense security insights and connect through social media, please visit www.social.websense.com . For more information, visit www.websense.com and www.websense.com/triton . Investor Contact: Avelina Kauffman Websense, Inc. (858) 320-9364 akauffman@websense.com Websense Media Contact: Patricia Hogan Websense, Inc. (858) 320-9393 phogan@websense.com SOURCE Websense, Inc....(read more)

Websense TRITON Wins Two 2013 SC Magazine Awards for Web Security and DLP Effectiveness

News Release Archive — Wed, 13 Mar 2013 12:11:00 GMT

Websense takes home Best Web Content Management Product and Best Regulatory Compliance Solution SAN DIEGO, March 13, 2013 /PRNewswire/ -- Websense, Inc. (NASDAQ: WBSN) today announced its Websense® TRITON™ platform won two 2013 SC Magazine Awards U.S.—Best Web Content Management and Best Regulatory Compliance. "Websense demonstrated security leadership, effectiveness and innovation that stood out from the crowd," said Illena Armstrong, VP of editorial, SC Magazine . "Websense is a great example of a company that is keeping organizations safe from today's toughest cybercriminals and data theft. SC Magazine , our distinguished panel of expert judges and the entire industry recognize these efforts with these prestigious awards." Websense won the Best Web Content Management Solution award over hundreds of vendor entries. The Reader Trust Voting panel recognized TRITON Web Security Gateway Anywhere because advanced malware and data theft attempts were no match for its embedded unified security defenses and global threat intelligence. The panel represented a cross-section of SC Magazine readers, including large, medium and small enterprises from all major vertical markets, including financial services, health care, government, retail, education and other sectors. TRITON Data Security Suite won Best Regulatory Compliance Solution with more than 1,700 pre-defined, industry-specific compliance templates and policies for data loss prevention (DLP). Administrators can easily select each policy and template by region and industry. Data Security Suite uniquely detects slow data leaks, uses optical character recognition (OCR) to analyze text in images, applies geo-location destination awareness to policies and provides off-network protection for systems, including Mac OS X laptops. SC Magazine's editorial team handpicked the award judges, many of whom are current or former chief security officers. "Websense continues to exemplify security leadership with unparalleled technological innovation and expertise," said Tom Clare, senior director of product marketing for Websense. "Evolving cyberattacks are becoming increasingly difficult for traditional solutions to stop. With Websense TRITON, customers can rest assured that their inbound and outbound data is secure. Winning these prominent awards validates our success in the industry." TRITON Web Security Gateway Anywhere and TRITON Data Security Suite are part of the Websense TRITON architecture . TRITON unifies all of the key components of threat defense and data theft prevention into a cohesive content security system. The TRITON solution brings together web security, email security, mobile security, data loss prevention (DLP) defenses and unified security intelligence under one management console. Solutions can be deployed on enterprise-grade appliances or as cloud-based services, and as powerful and efficient hybrids of on-premise and cloud elements working together. The SC Awards, now in its 16th year, is the clear global leader for information-technology (IT) security professionals and products that fend off the myriad security threats in today's corporate world. The annual awards showcase the best solutions, services and professionals while recognizing achievement and technical excellence. SC Magazine distinguishes the achievements of the security professionals in the field, the innovations happening in the vendor and service provider communities and the fervent work of government, commercial and nonprofits. For more information and a detailed list of categories and winners, please visit www.scmagazineus.com/awards . About Websense, Inc. Websense, Inc. (NASDAQ: WBSN) is a global leader in protecting organizations from the latest cyber attacks and data theft. Websense TRITON comprehensive security solutions unify web security, email security, mobile security and data loss prevention (DLP) at the lowest total cost of ownership. Tens of thousands of enterprises rely on Websense TRITON security intelligence to stop advanced persistent threats, targeted attacks and evolving malware. Websense prevents data breaches, intellectual property theft and enforces security compliance and best practices. A global network of channel partners distributes scalable, unified appliance- and cloud-based Websense TRITON solutions. Websense TRITON stops more threats, visit www.websense.com/proveit to see proof. To access the latest Websense security insights and connect through social media, please visit www.social.websense.com . For more information, visit www.websense.com and www.websense.com/triton . About SC Magazine SC Magazine provides IT security professionals with in-depth and unbiased information through timely news, comprehensive analysis, cutting-edge features, contributions from thought leaders and the best, most extensive collection of product reviews in the business. By offering a consolidated view of IT security through independent product tests and well-researched editorial content that provides the contextual backdrop for how these IT security tools will address larger demands put on businesses today, SC Magazine enables IT security pros to make the right security decisions for their companies. The brand's portfolio includes the SC World Conference and Expo, SC Congress Canada, SC Magazine Awards, SC Directory, SC Magazine Newswire and SC Magazine IT Security Executives Forums. Fan us on Facebook! http://www.facebook.com/SCMag Follow us on Twitter: http://twitter.com/scmagazine Websense Media Contact: Patricia Hogan Websense, Inc. (858) 320-9393 phogan@websense.com SOURCE Websense, Inc....(read more)

Websense TRITON Trumps All Vendors Within Independent Security Effectiveness Test

News Release Archive — Tue, 26 Feb 2013 14:15:00 GMT

Results show Websense real-time defenses cover breadth of advanced threat stages, including data theft detection SAN FRANCISCO, Feb. 26, 2013 /PRNewswire/ -- Miercom, the well-respected worldwide testing service, recently conducted one of the largest independent tests of real-world threat protection capabilities of web security systems. Results show that Websense, Inc. (NASDAQ: WBSN) demonstrated superior security effectiveness, threat detection and mitigation capabilities over the other tested systems. The test pitted Websense ® TRITON™ Web Security Gateway Anywhere, powered by the Websense Advanced Classification Engine (ACE), against web security systems offered by Blue Coat ® Systems, Inc., Cisco ® , McAfee ® , Palo Alto Networks™ and FireEye ® , Inc. The results are published and available at www.websense.com/proveit . Findings clearly prove that Websense demonstrated superior capabilities in the areas of web security effectiveness, modern malware threat stages, data theft and loss protection, malware sandboxing and forensic reporting, and manageability and effectiveness. "It's clear from our testing that Websense TRITON Web Security Gateway Anywhere has stronger detection capabilities across advanced threat stages," said Robert Smithers, chief executive officer, Miercom. "To truly mimic a real-world environment, we tested 2.2 million open live web requests of an unknown nature. This is a departure from traditional testing methods, which typically use known samples and produce artificially high results compared to real-world experience." Miercom's methodology allowed each solution to have a fair and equal chance of analyzing, classifying and blocking threats in real-time as they would on a business network. Using an unknown sample is key when identifying crucial security effectiveness metrics against day-to-day and advanced attacks. Attack methods include zero-day exploits, targeted and timed attacks, spear-phishing, lures and redirects hidden in social networking. This research tactic tested predictive defenses that aim to proactively protect users when they click on web links in real time. "With Websense TRITON, we are confident that we have created the most innovative and effective security for today's businesses, and this report proves it," said Russ Dietz, chief technology officer of Websense. "Threats are cracking enterprises on an almost daily basis because as an industry, many organizations are reliant on outdated security products. The Miercom testing results confirm that nothing can match security delivered by the unified web, email and data intelligence of TRITON." Miercom Security Effectiveness Test Results This Miercom testing was conducted in January of 2013. The effectiveness and validation tests addressed five security areas including: web security effectiveness, modern malware threat stages, data theft and loss protection, malware sandboxing and forensic reporting, and manageability and effectiveness. The web security effectiveness test used a data set of more than 2.2 million live web requests. These requests were of an unknown nature and targeted the web server through the web gateway. Websense correctly blocked 68 percent more malicious links, suspicious links, exploit kits, malware and other associated threats than the next ranking competitor. The modern malware threat stages test determined the systems' ability to detect and defend against kill chain stages, including individual detection of exploit kits, lures and dropper files. Again, the accumulated Websense scores were higher than all other units tested. Data theft and loss protection capabilities for Websense TRITON Web Security Gateway Anywhere were tested using six data theft and loss scenarios, including: custom encrypted file detection; password file data theft; optical character recognition of text within an image to protect confidential data; slow (or cumulative) data leak detection; and geo-location awareness. Again, Miercom validated Websense's innovative features for data theft and loss. Malware sandboxing and forensic reporting is critical to understand malware infection steps, system changes and call-home communications. Organizations need to know who was attacked, how they were attacked, where communications were destined, and what data was targeted with data theft capture. Websense TRITON Web Security Gateway Anywhere and the ThreatScope™ malware sandbox scored higher than the FireEye MPS appliance, in a comparison of the two solutions side by side. The most effective security isn't any good if it isn't easily manageable. In the manageability and effectiveness review, Miercom determined the relative value of: the management dashboard; unified policy creation and management capabilities; standard and custom security reporting; and the action ability of the information gathered. Miercom again found Websense was unrivaled. "This test speaks volumes on why the majority of today's security products fail," said Dietz. "Far too many security vendors wait and try to stop the final deliverable—the malware itself—only if they know the signature. Our research has shown that by disrupting any link in the attack chain, organizations can significantly increase their effectiveness in thwarting these persistent attacks." The Websense ACE security defenses are the foundation for Websense TRITON Web Security Gateway Anywhere effectiveness. ACE combines seven in-depth defenses using composite scoring with predictive analysis. More than 10,000 analytics within ACE are derived from the ThreatSeeker™ Intelligence Cloud, which unites more than 900 million endpoints and analyzes up to five billion requests per day. ACE defenses are utilized within the Websense ThreatScope™ malware analysis sandbox and TRITON web, email, data and mobile security solutions. "The Miercom data speaks for itself and the implications are clear. When you are facing real-world network traffic—not just a canned collection of known threats—features like Websense's real-time, inline defenses provide a clear advantage, and could likely be the difference in protecting an organization," said Dietz. The Miercom report is available in its entirety, including detailed test methodology and results, online at www.websense.com/proveit . About Websense, Inc. Websense, Inc. (NASDAQ: WBSN) is a global leader in protecting organizations from the latest cyber attacks and data theft. Websense TRITON comprehensive security solutions unify web security, email security, mobile security and data loss prevention (DLP) at the lowest total cost of ownership. Tens of thousands of enterprises rely on Websense TRITON security intelligence to stop advanced persistent threats, targeted attacks and evolving malware. Websense prevents data breaches, intellectual property theft and enforces security compliance and best practices. A global network of channel partners distributes scalable, unified appliance- and cloud-based Websense TRITON solutions. Websense TRITON stops more threats, visit www.websense.com/proveit to see proof. To access the latest Websense security insights and connect through social media, please visit www.social.websense.com . For more information, visit www.websense.com and www.websense.com/triton . About Miercom , Inc. Miercom has hundreds of product-comparison analyses published over the years in leading network trade periodicals including Network World, Business Communications Review, Tech Web - NoJitter, Communications News, xchange, Internet Telephony and other leading publications. Miercom's private test services include competitive product analyses, as well as individual product evaluations. Miercom features comprehensive certification and test programs including: Certified Interoperable, Certified Reliable, Certified Secure and Certified Green. The Performance Verified program is a thorough and trusted assessment for product usability and performance. For more information, contact Miercom via reviews@miercom.com . Websense Media Contact: Patricia Hogan Websense, Inc. (858) 320-9393 phogan@websense.com Miercom Media Contact: Cynthia Hughes Miercom, Inc. (609) 490-0200 chughes@miercom.com SOURCE Websense, Inc....(read more)

Websense and Leading Technology Partners Tackle Security Challenges of Evolving Networks

News Release Archive — Tue, 26 Feb 2013 13:05:00 GMT

Websense expands TRITON Security Alliance and world's largest security intelligence network with strategic partner integrations SAN FRANCISCO, Feb. 26, 2013 /PRNewswire/ -- Websense, Inc. (NASDAQ: WBSN), a global leader in protecting organizations from the latest cyber attacks and data theft, today announced the continued expansion and success of the Websense ® TRITON™ Security Alliance with top technology partners including Aruba Networks ® , F5 ® Networks, IBM ® , Imperva ® , Microsoft ® , VMware ® and more. Websense and participating TRITON Security Alliance members are building applications that incorporate security intelligence as a fundamental component of advanced networks, mobile and cloud-based applications. "Our partners look to Websense for the most effective security in the industry that provides real-time protection against advanced threats and data theft," said Ryan Windham, senior director of corporate development for Websense. "Together, with our partners, we share the vision of security that is coordinated, proactive, dynamic and offers shared situational analysis. Our TRITON Security Alliance partners lead their respective categories with innovation in areas such as network infrastructure, software defined networks, mobility, user rights management, and governance, risk and compliance." Mobility and the cloud are creating a borderless enterprise where users connect and interact with web-based applications without being on the corporate network. The network itself is changing by becoming programmable and dynamically adapting to virtualized datacenters and elastic workloads. This shift necessitates security that is flexible, dynamic, and part of the network fabric—no matter where users and data reside. Key technology partners have turned to the TRITON Security Alliance because real-time Websense security intelligence, delivered through the cloud, can be easily woven into their platforms to prevent advanced threats, malware, phishing attacks, lures and scams. The Websense ThreatSeeker™ Intelligence Cloud and Websense ACE (Advanced Classification Engine) are the foundation of the company's deep security intelligence. The Websense ThreatSeeker™ Intelligence Cloud, the world's largest threat intelligence network, collects and manages up to five billion inputs per day from more than 900 million global endpoints. This real-time clearinghouse of threat information also expands through a bi-directional exchange of security intelligence with industry partners. Websense TRITON Security Alliance Partner Quotes "Security is paramount to the Aruba unified access portfolio" said Peter Cellarius, vice president of business development and partnerships, Aruba Networks. "Securing wireless for mobility requires more than static point solutions. Websense recognizes that and collaborated with us to create a seamless integration between their industry-leading TRITON architecture and our Mobile Virtual Enterprise (MOVE) architecture. Customers can now get the full value of Websense's cloud-based content security for distributed organizations and with Aruba Instant and the Aruba Activate service, the first comprehensive, zero-touch, controllerless WLAN solution that meets the security, resiliency and scale requirements of a distributed enterprise." "VMware is creating the platform for the software-defined data center that can further enhance operational efficiency, drive more agility, and provide the extensibility required to rapidly respond to business needs," said Dean Coza, director, product management, security products, VMware. "Our ongoing work with Websense can enable VMware customers to incorporate essential security intelligence in the core of the network to help secure data and applications for end users." "Windows Server 2012 Dynamic Access Control provides a powerful new way to protect vital data by basing user entitlements on regular expressions that evaluate attributes including information content, user identity, groups, etc. This adds to customers' ability to control access to sensitive and confidential information," said Andrew Conway, director, server and tools marketing, Microsoft. "Websense provides an advanced automatic content classification plug-in that helps customers automatically classify data when it's created." "Organizations need to identify and protect sensitive data stored in files, such as regulated information, intellectual property and details about business deals," said Mark Kraynak, senior vice president of worldwide marketing, Imperva. "Websense Data Discover delivers file classification information which, when combined with Imperva SecureSphere policies, makes SecureSphere File Security solutions the best choice for securing sensitive files." "IBM QRadar provides best-in-class data collection, analysis, correlation and auditing capabilities for next-generation security management," said Michael Loria, vice president of business and corporate development, IBM. "The threat detection and data loss incidents from Websense provide critical security intelligence that illuminates threats that might otherwise go unnoticed." For more information on the Websense TRITON Security Alliance, please visit www.websense.com/content/websense-triton-security-alliance . About Websense, Inc. Websense, Inc. (NASDAQ: WBSN) is a global leader in protecting organizations from the latest cyber attacks and data theft. Websense TRITON comprehensive security solutions unify web security, email security, mobile security and data loss prevention (DLP) at the lowest total cost of ownership. Tens of thousands of enterprises rely on Websense TRITON security intelligence to stop advanced persistent threats, targeted attacks and evolving malware. Websense prevents data breaches, intellectual property theft and enforces security compliance and best practices. A global network of channel partners distributes scalable, unified appliance- and cloud-based Websense TRITON solutions. Websense TRITON stops more threats, visit www.websense.com/proveit to see proof. To access the latest Websense security insights and connect through social media, please visit www.social.websense.com . For more information, visit www.websense.com and www.websense.com/triton . Websense Media Contact: Patricia Hogan Websense, Inc. (858) 320-9393 phogan@websense.com SOURCE Websense, Inc....(read more)

Websense and F5 Networks Announce Joint Development of High-Performance Security Solutions

News Release Archive — Mon, 25 Feb 2013 13:05:00 GMT

Joint solutions provide highly scalable security and real-time protection against advanced threats and data theft SAN FRANCISCO, Feb. 25, 2013 /PRNewswire/ -- Websense, Inc. (NASDAQ: WBSN) and F5 Networks, Inc. (NASDAQ: FFIV) today announced a long-term, strategic agreement to develop the industry's most comprehensive, scalable, real-time network security offerings. The two companies also announced the immediate availability of the first solution on their joint development roadmap. "We are the first in the industry to build a consistent set of security services across application delivery controllers and unified access solutions," said Ryan Windham, senior director of corporate development for Websense. "Our partnership with F5 allows enterprises to secure sensitive data from both inbound attacks and outbound exfiltration through a single, integrated security platform—combining security effectiveness with network scalability." The integrated solutions will provide high-performance security in the flow between users and applications, wherever they exist. This will enable cloud applications and empower users while securing intellectual property and providing inline, real-time protection against advanced threats. The architecture provides bi-directional, context-aware security based on identity, device and location as well as application, data and destination information. "F5 secures access to applications and data through a highly scalable, intelligent services framework deployed at strategic points in the network," said Mark Vondemkamp, vice president of security product management and marketing at F5 Networks. "Our partnership with Websense adds inline, real-time defenses to detect advanced threats and data theft, making it safer for organizations to conduct business." This partnership extends F5's existing unified access solutions, which provide secure, accelerated remote access and identity federation for web, virtual desktop infrastructure (VDI), client-server and SaaS applications. By implementing these solutions in conjunction with F5's application delivery firewall , application security , mobile app management , and application access management solutions, organizations can effectively protect their entire enterprise footprint. "Websense is an established leader in security intelligence and F5 Networks is known for high performance benchmarks—this alliance is poised to create a solid and unified solution for large enterprises," said Michael Suby, Stratecast vice president of research for Frost & Sullivan. "The Websense and F5 partnership adds necessary contextual security to the application delivery controller and unified access solutions. It solves the problem of dispersed intelligence by linking data center and user traffic flows, which is something that hasn't been done before through a single platform." Organizations today are susceptible to highly sophisticated attacks such as application vulnerability exploitation, spear-phishing and advanced malware. If successful, cybercriminals can steal crucial data and disrupt commercial services. "It's very encouraging to see these two industry titans come together to bring security defenses to the enterprise datacenter," said Andy Welsh, director of partner alliances at Accuvant. "Accuvant is a key channel partner for both F5 Networks and Websense—and today's development is a sign of great things to come. We are looking forward to seeing this partnership thrive and offering these solutions to our clients worldwide." Today, the companies also announced the immediate availability of the first solution on their joint development roadmap. This solution optimizes the interoperability of the F5 ® BIG-IP ® platform and Websense® X10G™ and V-Series™ appliances. Leveraging a choice of F5 iApps ® technology to streamline configuration and deployment, the combined solution provides unified access and effective security against advanced threat stages, including data theft, with increased scalability and availability. F5 and Websense will continue to integrate their respective platforms through a series of interoperability releases. For more information about this alliance, please visit www.websense.com/content/websense-triton-security-alliance-partners . For more information on the proven effectiveness of Websense TRITON™ defenses, please visit www.websense.com/proveit . Visit the F5 website for background on the highly scalable F5 BIG-IP platform by clicking here: www.f5.com/products/big-ip/ . About F5 Networks F5 Networks (NASDAQ: FFIV) makes the connected world run better. F5 helps organizations meet the demands and embrace the opportunities that come with the relentless growth of voice, data, and video traffic, mobile workers, and applications—in the data center, the network, and the cloud. The world's largest businesses, service providers, government entities, and consumer brands rely on F5's intelligent services framework to deliver and protect their applications and services while ensuring people stay connected. Learn more at www.f5.com . You can also follow @f5networks on Twitter or visit us on Facebook for more information about F5, its partners, and technology. For a complete listing of F5 community sites, please visit www.f5.com/news-press-events/web-media/community.html . F5, BIG-IP, DevCentral, iRules, iControl, and iApps are trademarks or service marks of F5 Networks, Inc., in the U.S. and other countries. About Websense, Inc. Websense, Inc. (NASDAQ: WBSN) is a global leader in protecting organizations from the latest cyber attacks and data theft. Websense TRITON comprehensive security solutions unify web security, email security, mobile security and data loss prevention (DLP) at the lowest total cost of ownership. Tens of thousands of enterprises rely on Websense TRITON security intelligence to stop advanced persistent threats, targeted attacks and evolving malware. Websense prevents data breaches, intellectual property theft and enforces security compliance and best practices. A global network of channel partners distributes scalable, unified appliance- and cloud-based Websense TRITON solutions. Websense TRITON stops more threats, visit www.websense.com/proveit to see proof. To access the latest Websense security insights and connect through social media, please visit www.social.websense.com . For more information, visit www.websense.com and www.websense.com/triton . F5 Media Contact: Alane Moran F5 Corporate Communications (206) 272-6850 a.moran@f5.com Websense Media Contact: Patricia Hogan Websense, Inc. (858) 320-9393 phogan@websense.com SOURCE Websense, Inc....(read more)

Websense to Host Ninth Annual Financial Analyst Day

News Release Archive — Thu, 14 Feb 2013 13:05:00 GMT

SAN DIEGO, Feb. 14, 2013 /PRNewswire/ -- Websense, Inc. (NASDAQ: WBSN), a global leader in unified web security, email security, mobile security and data security solutions, today announced that the company will host its Ninth Annual Financial Analyst Day in conjunction with the 2013 RSA Conference in San Francisco on February 26, 2013, beginning at 9 a.m. PT. Websense ® CEO John McCormack and other executives will discuss the company's strategic direction and upcoming product offerings. To register for the event, visit http://investor.websense.com/events.cfm . A live webcast of the event may be accessed on the internet at http://investor.websense.com/ . About Websense, Inc. Websense, Inc. (NASDAQ: WBSN), a global leader in unified web security, email security, mobile security, and data loss prevention (DLP), delivers the best content security for modern threats at the lowest total cost of ownership to tens of thousands of enterprise, mid-market and small organizations around the world. Distributed through a global network of channel partners and delivered as appliance-based software or SaaS-based cloud services, Websense TRITON content security solutions help organizations leverage social media and cloud-based communication, while protecting from advanced persistent threats and modern malware, preventing the loss of confidential information, and enforcing internet use and security policies. Websense is headquartered in San Diego, California with offices around the world. For more information, visit www.websense.com . Follow Websense on Twitter: www.twitter.com/websense Join the discussion on Facebook: www.facebook.com/websense INVESTOR CONTACT: MEDIA CONTACT: Avelina Kauffman Patricia Hogan Websense, Inc. Websense, Inc. (858) 320-9364 (858) 320-9393 akauffman@websense.com phogan@websense.com SOURCE Websense, Inc....(read more)

Websense 2013 Threat Report: Nearly 600 Percent Increase in Global Malicious Websites; 85 Percent on Legitimate Sites

News Release Archive — Wed, 13 Feb 2013 13:05:00 GMT

Websense Security Labs exposes pressing cybercriminal threats and need for real-time security defenses and data theft protection SAN DIEGO, Feb. 13, 2013 /PRNewswire/ -- Research findings released today from Websense ® Security Labs™, the worldwide research team from Websense, Inc. (NASDAQ: WBSN), report explosive year-over-year growth in global cyberattack trends. "Year-over-year, the number of malicious web-based attacks increased by nearly 600 percent," said Charles Renert, vice president of the Websense Security Labs. "These attacks were staged predominantly on legitimate sites and challenge traditional approaches to security and trust. The timed, targeted nature of these advanced threats indicates a new breed of sophisticated attacker who is intent on compromising increasingly higher-yield targets. Only proactive, real-time security techniques, that inspect the entire lifecycle of a threat, can withstand the assault and prevent data theft." Below are key Websense 2013 Threat Report findings, based on a year-over-year comparison of web, email, data, mobile and social media threats: Each week, organizations faced an average of 1,719 attacks for every 1,000 users. Malicious websites increased by nearly 600 percent worldwide. North American malicious sites increased by 720 percent and EMEA saw a 531 percent increase. Legitimate web hosts were home to 85 percent of those malicious sites. Half of web-connected malware downloaded additional executables in the first 60 seconds. Only 7.7 percent of malware interacted with the system registry—circumventing many behavioral detection systems and antivirus solutions. Thirty-two percent of malicious links in social media used shortened URLs. Once cybercriminals gain access to a host, they typically hide their own malicious pages deep in the directory tree. This process generates very long and complex web links that might tip off a wary user. Link shortening solves that problem. The United States of America, Russia and Germany were the top three countries hosting malware. Meanwhile, the Bahamas made its debut into the list of top five countries hosting phishing sites, with a second place ranking. China, the United States of America and Russia were the top three countries hosting command and control servers. Only one in five emails were legitimate and email spam increased to 76 percent. Worldwide spam volumes reached more than a quarter of a million emails per hour. One in 10 malicious mobile applications asked for permission to install other apps, something rarely required by legitimate apps. Analysis and news headlines show that multistage attacks with multiple vectors have challenged security capabilities, as they worked to find weak spots and circumvent defenses. Attacks identified in the Websense 2013 Threat Report indicate a need for integration at the actual defense level and deep content security intelligence with real-time security defenses. When independent solutions are in place, there is no way to ensure that email, web, mobile, social and data loss defenses are each prepared to perform their role to cohesively address an emerging threat. As a result, individual defenses are at the mercy of the least prepared security solution. Real-time security defenses and shared intelligence serves as the backbone for the award-winning Websense TRITON™ architecture. Websense TRITON unifies all the key components of threat protection and data theft prevention into a cohesive content security system. It brings together web security, email security, mobile security and data loss prevention (DLP) defenses with unified security intelligence and a unified management console. This intelligence is derived from more than 100 Websense Security Labs researchers worldwide, managing more than 10,000 analytics from analysis of up to five billion requests per day. To download the Websense 2013 Threat Report, and to view a video featuring the top findings, visit www.websense.com/2013threatreport . For ongoing research updates, be sure to follow the Websense Security Labs blog: http://community.websense.com/blogs/securitylabs/ . For more information about Websense TRITON solutions, please visit www.websense.com/triton . About Websense, Inc. Websense, Inc. (NASDAQ: WBSN), a global leader in unified web security, email security, mobile security, and data loss prevention (DLP), delivers the best content security for modern threats at the lowest total cost of ownership to tens of thousands of enterprise, mid-market and small organizations around the world. Distributed through a global network of channel partners and delivered as appliance-based software or SaaS-based cloud services, Websense TRITON content security solutions help organizations leverage social media and cloud-based communication, while protecting from advanced persistent threats and modern malware, preventing the loss of confidential information, and enforcing internet use and security policies. Websense is headquartered in San Diego, California with offices around the world. For more information, visit www.websense.com . Follow Websense on Twitter: www.twitter.com/websense Join the discussion on Facebook: www.facebook.com/websense Websense Media Contact: Patricia Hogan Websense, Inc. (858) 320-9393 phogan@websense.com SOURCE Websense, Inc....(read more)

Websense to Present at Upcoming Investor Conferences

News Release Archive — Tue, 05 Feb 2013 13:05:00 GMT

SAN DIEGO, Feb. 5, 2013 /PRNewswire/ -- Websense, Inc. (NASDAQ: WBSN), a global leader in unified web security, email security, mobile security and data security solutions, today announced management participation in two investor conferences during the first quarter of 2013. Stifel Technology Conference Wednesday, February 6, 2013 at 4:25 p.m. PT San Francisco, CA Morgan Stanley Technology, Media & Telecom Conference Wednesday, February 27, 2013 at 1:55 p.m. PT San Francisco, CA Links to the webcasts of these events will be available on the investor relations section of the company's website at www.websense.com/investors. About Websense, Inc. Websense, Inc. (NASDAQ: WBSN), a global leader in unified web security, email security, mobile security, and data loss prevention (DLP), delivers the best content security for modern threats at the lowest total cost of ownership to tens of thousands of enterprise, mid-market and small organizations around the world. Distributed through a global network of channel partners and delivered as appliance-based software or SaaS-based cloud services, Websense TRITON content security solutions help organizations leverage social media and cloud-based communication, while protecting from advanced persistent threats and modern malware, preventing the loss of confidential information, and enforcing internet use and security policies. Websense is headquartered in San Diego, California with offices around the world. For more information, visit www.websense.com . Follow Websense on Twitter: www.twitter.com/websense Join the discussion on Facebook: www.facebook.com/websense INVESTOR CONTACT: MEDIA CONTACT: Avelina Kauffman Patricia Hogan Websense, Inc. Websense, Inc. (858) 320-9364 (858) 320-9393 akauffman@websense.com phogan@websense.com SOURCE Websense, Inc....(read more)