Tripwire Continues Momentum with Banner First Quarter, Bucking National and Industry Trends
Portland, OR - Apr 22, 2009 - Bucking the trend of many technology companies, Tripwire®, the leader in configuration audit and control solutions, announced today that its first quarter results beat expectations, with the company enjoying a 20 percent growth rate over the last twelve months. Fueled by research, innovation and industry-leading customer retention rates, Tripwire continues to outpace the competition, setting the bar even higher for technology, services and thought leadership.
Tripwire is challenging the national trend and recent reports from industry analysts. Gartner Research just revised forecasts for IT spending to reflect a decrease of 3.8 percent in 2009 to $3.2 trillion, down from nearly $3.4 trillion in 2008, a drop not seen since 2001. (Source: Gartner, Inc. "Gartner Says Worldwide IT Spending to Decline 3.8 Per Cent in 2009," March 31, 2009)
"Even though companies are cautious about making IT investments, they are still spending to ensure systems are secure and compliant," said Rob Owens, Security and Infrastructure Software Analyst at Pacific Crest, an international research firm. "Tripwire’s method for continuous compliance across both physical and virtual environments is enabling it to fulfill the market’s needs and helping the company gain share in the industry. Our recent survey of IT security buyers demonstrates Tripwire’s continued execution as it is viewed as one of the top strategic vendors in the space." (Pacific Crest / MetroSITE March 2009 Security Spending Survey)
Unlike the experience of other technology companies in the region, Tripwire has grown its employee base by 22 percent in the last year and expanded its executive expertise with the hire of Aaron Lerner, vice president of engineering. In addition, the company was once again honored by Oregon Business Magazine as one of Oregon’s "100 Best Places to Work," reflecting Tripwire’s reputation as an employer of choice as evidenced by 95 percent employee retention.
Other first quarter milestones include:
- Announced a major new initiative for virtual infrastructure (VI) professionals, which includes Tripwire OpsCheckTM, a free tool to manage VMware VMotion, and an online community for VI administrators, www.vwire.com. Tripwire OpsCheck assesses common configuration problems that may prevent VMotion from operating properly, and provides troubleshooting tips for configuring VMotion based on Tripwire OpsCheck test results. To download Tripwire OpsCheck, go to www.vWire.com.
- Brought Tripwire Express for PCI to market. Tripwire Express for PCI is an enhanced file integrity monitoring solution that enables smaller retailers to quickly achieve and maintain PCI compliance based on "pay as you grow" pricing.
- Unveiled Tripwire Remote Operations Service, a new services solution that provides complete remote administration and maintenance of Tripwire Enterprise, ensuring consistency and performance, lowering customers’ Total Cost of Ownership of the system.
- Introduced Tripwire Compliance Management Pack for Microsoft System Center Operations Manager 2007. Customers who use both Tripwire Enterprise and System Center Operations Manager 2007 in their IT operations will now be able to seamlessly manage policy from a single viewpoint, ensuring continuous compliance. Tripwire released the Compliance Management Pack in February 2009 to a select group of customers and already has 25 customers using the integration successfully within their environment.
- Tripwire’s Virtualization Evangelist, Stephen Beaver, was named a VMware vExpert, an award given to individuals who have significantly contributed to the community of VMware users and helped spread the word about virtualization over the past year.
"While we are fortunate to experience growth, expansion and recognition in this economy, it is not by chance," said Jim Johnson, President and CEO of Tripwire. "We have a team of driven employees dedicated to expanding our legacy of market-leading research and development, and quickly responding to customer needs."
First quarter results continue the momentum of 2008, a banner year for Tripwire, which resulted in revenue growth of 27 percent year over year, more than 6,550 customers, $62 million dollars in revenue, and $70.5 million in recorded bookings. The company’s sustained growth has come from its ability to proactively address market needs for IT security and compliance, coupled with a strong commitment to customer success.