Well, blow me over with a feather, the mighty Zix finally started making a profit last year. Only $328 million in the hole for investor money they toasted in the last decade, LOL.
They even bear a remote resemblance to a real business. Not one I would invest in, but it's still quite a change. They must have finally found a competent CEO interested in something more than just selling shares.
Business Highlights
Email Encryption:
* The Alcohol and Tobacco Tax and Trade Bureau (TTB) selected ZixCorp to provide secure email. TTB is the fifth bureau of the U.S. Treasury department to use ZixCorp® Email Encryption Services.
* ZixCorp signed a new, three-year contract with a Blue Cross Blue Shield (BCBS) organization that replaced a competitor’s solution. This new customer addition further solidifies ZixCorp’s position within the BCBS family of customers. ZixCorp now has more than 30 BCBS organizations using the Company’s Email Encryption Services.
* The Company continues to pursue strategic distribution options for its encrypted email service. During the quarter an international electronic payments organization began to integrate ZixCorp Email Encryption Services into their service delivery platform.
* ZixCorp continued its growth in the financial services industry and now has more than 1,400 financial institution customers.
* The Company’s shared community of users, ZixDirectory, now includes more than 23 million members and is growing by approximately 100,000 members per week.
e-Prescribing:
* On December 8, 2009, ZixCorp announced its planned exit from the e-Prescribing business. The Company is on track to exit this business on December 31, 2010, while fulfilling its existing obligations to customers and partners. We expect this business to be slightly profitable for 2010.
* Included in the Corporate results above are the e-Prescribing business segment results, as follows:
$ in Millions, except % data Q3
2010
Q3
2009
% or $
Change
Revenue $ 0.492 $ 1.150 (57.2 %)
Non-GAAP Gross Profit $ 0.273 $ 0.210 30.0 %
Non-GAAP Adjusted Earnings $ 0.161 ($1.160 ) $ 1.321
Outlook:
For the full-year 2010, the Company is reaffirming its previously issued revenue guidance and increasing its adjusted non-GAAP earnings to be between $0.11 and $0.12, per fully diluted share. |
