Websense expects flat or higher 1Q earnings

Websense Inc., a maker of Internet security software, predicted Tuesday that it would report flat or higher adjusted earnings in the first quarter, and affirmed its revenue guidance for fiscal 2009.

The company announced its preliminary results in advance of an upcoming briefing for analysts, which is scheduled for April 22.

Websense expects to report first-quarter adjusted earnings in the range of 35 cents to 38 cents per share, compared with an adjusted profit of 35 cents per share in the first quarter of 2008. The company noted that its adjusted results exclude stock-based compensation expense and some acquisition-related costs.

The company expects to report revenue in the range of $80.5 million to $81.5 million, up from $67 million in the prior year.

Adjusted revenue is expected to total $86 million to $87 million, compared with $86.5 million in adjusted revenue during the first quarter of 2008.

Analysts polled by Thomson Reuters, who generally adjust forecasts to exclude one-time items, predict quarterly earnings of 30 cents per share on revenue of $84.7 million.

"Our first quarter results reflected growing momentum for our new Web security products, combined with growth in the number of enterprise customers," said Chief Executive Gene Hodges in a statement. "We remain confident we can achieve our financial guidance for 2009."

Websense is scheduled to release its complete first-quarter 2009 results after the market closes on April 28.

Websense shares gained $1.09, or 8.3 percent, to $14.25 in aftermarket trading, after losing 5 cents during the regular session to close at $13.16. The stock has traded between $9.48 and $24.60 during the past 52 weeks.