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F-Secure warns of slowdown after strong Q2
July 25, 2012 / 6:44 AM / 5 years ago

F-Secure warns of slowdown after strong Q2

HELSINKI (Reuters) - Top European security software maker F-Secure Oyj warned of a slowdown later this year despite stronger-than-expected sales and profits in the second quarter.

It said sales from its newly-launched data storage business would shrink substantially in the second half, hitting group sales growth and profits, particularly in the fourth quarter.

F-Secure's second-quarter sales grew 12 percent from a year ago to 39.6 million euros ($47.86 million). Operating profit rose 26 percent to 5.8 million. Both numbers beat all analysts' forecasts in a Reuters poll.

"During the quarter, Internet security sales performed very well in several European countries and in Latin America, showing robust, double-digit revenue growth," the company said.

F-Secure reiterated it sees 2012 operating profit margin at around 15 percent and annual sales growth at 5-10 percent.

F-Secure - which competes with larger rivals Symantec and Intel's McAfee - makes more than half of its revenue from telecom operators, which sell the firm's software to their customers. ($1 = 0.8275 euros)

Reporting By Tarmo Virki

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