Cybersecurity company ArcSight sees higher profit in fiscal 1st-qtr as sales jump 39 percent

ArcSight posts higher fiscal 1Q profit

CUPERTINO, Calif. — ArcSight Inc. said Thursday its fiscal first-quarter profit tripled as the cybersecurity software and services company’s sales jumped 39 percent.

The company said net income rose to $3 million, or 8 cents a share, in the three months ended July 31. That compares with net income of $1 million, or 3 cents a share, in the same period last year.

Excluding one-time charges, adjusted earnings amounted to $6.6 million, or 18 cents a share, the company said.

Analysts polled by Thomson Reuters expected ArcSight to earn 13 cents a share. Analyst estimates typically exclude one-time items.

Revenue for the quarter rose to $48.1 million from $34.6 million. Analysts projected $45.5 million.

Management said it is experiencing strong growth in its core government and commercial markets due to rising cybercriminal activity.

Looking ahead, the company projected revenue in fiscal 2011 will be 20 percent higher than in fiscal 2010. It expects fiscal second-quarter revenue to range between $55 million and $57 million and adjusted earnings per share to range between 19 cents and 20 cents, excluding one-time items.

Analysts project earnings of 17 cents a share.

ArcSight’s shares slipped 79 cents, or 2 percent, to $37.05 in aftermarket trading after adding a penny to $37.84 during the regular session.