SOURCE: Alert Logic

Alert Logic

April 05, 2010 10:00 ET

Alert Logic Focus on Cloud Security Drives Best Sales Quarter in Company History

Growing Channel of IT Service Providers Contributes to Strong Q1 2010

HOUSTON, TX--(Marketwire - April 5, 2010) -  Alert Logic, the leading provider of cloud-powered network security and compliance solutions, today announced that its Q1 2010 sales performance was the best in the company's eight-year history. During the quarter ending March 31, 2010, the network security and log management company recorded new sales which exceeded the company's previous all-time best quarter by more than 23 percent. During Q1 Alert Logic closed long-term recurring revenue contracts producing an additional $2.04 million in Annualized Recurring Revenue (ARR). This brings the company's total ARR under contract to $13.3 million.

The first quarter of 2010 was Alert Logic's first full quarter of sales after revising its growth strategy to focus more heavily on sales through its robust channel of IT service provider partners, particularly hosting companies.

"In the fall of 2009, we made a strategic decision to double-down on our bet that the hosting industry will continue to grow rapidly, and that hosting customers need managed security services like ours," said Gray Hall, Alert Logic's president & CEO. "So far, our bet seems to be paying off for two key reasons. Our hosting partners are continuing to grow faster than the rest of the IT industry; and, we are effectively leveraging our unique position as the only security software company focused on providing security and regulatory compliance solutions for customers of hosting companies and other IT service providers."

"We expect the trends driving our accelerating growth rate -- the movement of IT infrastructure into the cloud and the demand for security SaaS solutions like ours -- to continue," said Greg Davis, vice president of sales at Alert Logic. "Given this, I am confident we are positioned for strong growth throughout the remainder of 2010."

Alert Logic plans to announce its Q1 2010 financial results, including GAAP revenues and key business milestones achieved later this month.

About Alert Logic
Alert Logic's patented solutions are the smartest choice for over-regulated businesses with underfunded IT departments to secure networks and ensure compliance. Its cloud-powered managed solutions combine intrusion detection, network vulnerability assessment, log management and 24x7 security monitoring, and are designed to maximize revenue and profit opportunities for service providers and hosting partners. Enterprises experience a solution that addresses network security and compliance requirements at a low price point, with little dependency on IT resources. Alert Logic is based in Houston, Texas and was founded in 2002. More information about Alert Logic can be found at http://www.alertlogic.com.

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