Comodo Group Reports Fiscal Year 2005 Results
July 23, 2006 (PRLEAP.COM) Business NewsJersey City, NJ (July 23, 2006) – The Comodo family of companies, leading providers of solutions for identity and trust assurance in digital commerce today reported unaudited FY 2005 results from July 1, 2005 through June 30, 2006 where Comodo Group’s transactional volumes through all channels from all ongoing operations increased nearly five fold.
This reflects the significant favorable impact of key Comodo initiatives during the past 12 months related to new technology launches and major new alliances. Further improving overall company performance are productivity improvements related to the company's continuing initiative to leverage Comodo Group’s global authentication infrastructure and processes.
"We ended our eighth year as an independent company with a solid performance by staying focused on serving our customers. Channel order volumes grew in all regions by over 63% since the beginning of the year” said Melih Abdulhayoglu. “Further, in the past 12 months, we have added 1,500 new ISP, Domain Registrar and Web Host partners extending Comodo’s market presence substantially.”
Fiscal Year 2005 Highlights
Across all product lines, the Comodo companies captured a higher share of customers than last year in its key focus segments. The Comodo family gained significant momentum and market share in its core solutions areas of Internet security, authentication and identity assurance solutions, infrastructure solutions for hosting environments, desktop security and secure communications.
Selected key solution launches included:
Internet Authentication and Security Solution Launches:
* Two Factor authentication delivered via PKI-based (Public Key Infrastructure) Client certificates
* Web content authentication technologies delivered via Content Verification Certificates (CVC) enabling merchants to establish trust through verifiable web content such as credit card logos or account log in boxes
* Digital signatures and E-Mail certification
* Vulnerability scanning solutions
* Mutual Authentication Solution for financial institutions that enable FFIEC compliant, reciprocal authentication schema for consumers and financial institutions.
Infrastructure Solution Launches:
* Integrated and highly automated provisioning and billing solution, H-Sphere, for web hosting infrastructure requirements
* NOC Monkey - first to market product to enable remote server provisioning that allows full direct, online access to the server to recover the system or install new OS without requiring expensive hardware
* Zero Touch Linux (ZTL) simplifies Linux server administration by incorporating all the back-end server applications under a single, web based control panel
Desktop Security and Communications Solution Launches:
* Free desktop security suite (never any update or annual subscription charges) includes:
o Comodo Firewall, (rated as a PC magazine Editors Choice)
o Comodo Anti Virus
o iVault – a password management tool
o Comodo BackUp service
o E-Mail certificates
o VerificationEngine (VE) – anti phishing tool that enables end users to authenticate legitimate logos of 200,000 sites worldwide including most major financial institutions, government organizations and enterprise sites.
* New online faxing technologies within Comodo’s TrustFax service to enable sophisticated capabilities including digitized signature and online entry of information in PDF forms without printing.
Significant customer wins and channel alliances:
During the past year, the Comodo companies’ strong portfolio, experience in PKI and investment in authentication technologies are having significant positive impacts on our results. Comodo was able to successfully bring to completion the acquisition of new technologies, forming major new channel alliances and achieving industry recognition for our new technologies.
Significant customer wins and channel alliances:
* Multi year contract with Brazil Telecom Internet for Comodo Group’s automated provisioning and billing infrastructure H-Sphere solution
* A few of the financial institution customers who tapped Comodo CA’s Mutual Authentication solution include Beehive Savings Bank, Boiling Springs Savings Bank, Nutmeg State Federal Credit Union and Apple Federal Credit Union
* E-Mail service provider Hushmail has enabled their site with web content authentication with CVCs
* Sony Europe utilizes Comodo CA’s EPKI solution to deploy SSL certificates throughout their European locations
* Alstom, a Fortune 500 full service provider in power generation, manages SSL certificate issuance globally using Comodo CA’s EPKI solution
* Major new channel partners include:
o A+ Net
o ARX, (Algorithmic Research)
o Web Intellects
Industry Recognition and Technology Acquisitions:
* Comodo acquired the IP of Indicii Salus Ltd extending Comodo’s portfolio of secure communications solutions
* Comodo Firewall was rated as an Editor’s Choice by PC Magazine Online
* VerificationEngine, a free consumer anti phishing solution that authenticates credit card logos or web site log in boxes, has received industry recognition within first 6 months of launch:
* Hot Security Product 2006 from Info Security
* Selected as a finalist by CNET UK for its prestigious Technology Award 2006
"We recognized early the fundamental changes now taking place in Internet security and we aligned our resources accordingly to fund the creation of breakthrough solutions to address these needs. Authentication has emerged as the single urgent requirement and given our investments and focus, we are uniquely well positioned for the future” said Melih Abdulhayoglu.
Other financial details were not disclosed.
About Comodo Group Inc
The Comodo family of companies is a leading global provider of Identity and Trust Assurance services on the Internet, with over 200,000 customers worldwide. Headquartered in Jersey City, NJ with global offices in the UK, Ukraine and India, Comodo offers businesses and consumers the intelligent security, authentication and assurance services necessary to ensure trust in online transactions.
Through our leading Certification Authority, Comodo CA Ltd., and in combination with the Digital Trust Lab, Comodo helps enterprises address digital ecommerce and infrastructure needs with reliable, third generation solutions that improve customer relationships, enhance customer trust and create efficiencies across digital ecommerce operations. Comodo solutions include integrated Web hosting management solutions, infrastructure services, digital e-commerce services, digital certification, identity assurance, customer privacy and vulnerability management solutions. For additional information on Comodo - Creating Trust Online™ - please visit: www.comodo.com