REG - Corero Network Sec. - Pre-close update regarding market expectations

Corero Network SecurityAnnouncement

22/12/2021 10:35

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211222:nRSV4981Wa&default-theme=true

RNS Number : 4981W  Corero Network Security PLC  22 December 2021

22 December 2021

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

Corero Network Security plc

("Corero" or the "Company")

 

Pre-close update regarding market expectations

 

Corero Network Security plc (AIM: CNS), a leading provider of real-time,
high-performance, automatic Distributed Denial of Service (DDoS) cyber defense
solutions, today issues a pre-close update for the year ended 31 December 2021
("the year").

 

Subject to year-end close and external audit finalisation,  the Board
anticipates revenue to be broadly in line with market expectations and EBITDA
to be significantly ahead of market expectations for the year and positive.
The increase in EBITDA is a result of a better than expected gross margins
coupled with lower operating expenses. The scale of the profitability is
linked to the remaining sales opportunities to be closed before the end of the
year.

 

A more comprehensive trading update will be provided as soon as available to
the market in January 2022.

 

 

Enquiries:

 

 Corero Network Security plc                                    Tel: +44(0)1494 590 404
 Lionel Chmilewsky, Chief Executive Officer
 Neil Pritchard, Chief Financial Officer

 Canaccord Genuity Limited  (Nominated Adviser and Broker)     Tel: +44(0)20 7523 8000
 Simon Bridges / Andrew Potts

 Vigo Consulting                                               Tel: +44(0)20 7390 0230
 Jeremy Garcia / Antonia Pollock
 corero@vigoconsulting.com (mailto:corero@vigoconsulting.com)

 

About Corero Network Security

Corero Network Security plc is a global leader in real-time, high-performance,
automatic DDoS cyber defense solutions. Both Service and Hosting providers,
alongside digital enterprises across the globe rely on Corero's award winning
cybersecurity technology to eliminate the threat of Distributed Denial of
Service (DDoS) to their digital environment through automatic attack detection
and mitigation, coupled with network visibility, analytics and reporting.
Corero's industry leading SmartWall and SecureWatch technology provides
scalable protection capabilities against external DDoS attackers and internal
DDoS botnets in the most complex edge and subscriber environments, while
enabling a more cost-effective economic model than previously available.
Corero's key operational centers located in Marlborough, Massachusetts, USA
and Edinburgh, UK, with the Company's headquarters in Amersham, UK. The
Company is listed on the London Stock Exchange's AIM market under the ticker
CNS.  For more information, visit   www.corero.com
(http://www.corero.com/)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTBLLFLFLLXFBB