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Monday, 20 November, 2000, 18:52 GMT
Hardware firm cashes in on e-security fears
nCipher web site
Internet security has become a reliable cash cow
The world of e-commerce has long been marred by poor earnings. Not so, it seems, for the sector's virtual security guards.

Alex van Someren
Alex van Someren: Satisfying revenue growth
Encryption hardware firm nCipher on Monday revealed that it gross margins for the third quarter of 2000 rose to 72% - more than double those it achieved in the same period last year.

The company's total revenues rose 11% from the second to the third quarter, to 3.6 m.

But, despite high earnings, nCipher, which is based in Cambridge, has yet to make a profit.

The company's operating loss nearly doubled during the third quarter, from 581,000 to 949,000.

During the same period last year, nCipher's revenues were 1.71m compared to 3.62m this year.

nCipher says the third quarter operating losses were caused by a sharp increase in its marketing and administrative expenses, as well as its research and development investments, following its launch, which raised 100m.

"Following our IPO we are in an extremely strong financial position and are comfortable with market expectations for the full year," chief executive Alex van Someren said on Monday.

nCipher shares closed 16p lower at 361.50p on Monday in London.

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03 Apr 00 | Business
nCipher targets web security
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Beating the hacker attack
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Security fears hit e-commerce
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