SurfControl upbeat over financial results

Internet security vendor SurfControl has reiterated its faith in channel sales amid its recent financial results.

The firm said last week that it expects turnover to be at the lower end of its previous £55m-£58m guidance. Martino Corbelli, marketing director at SurfControl, told CRN: “Overall, we are quite pleased. They are strong results in a crowded marketplace. To get the initial high growth we sold direct from the start, but once we had a strong base we built on this to give us a well-built channel base.

“We will continue to use this model, using our current network of resellers, while recruiting all the time. We run a complete channel business,” said Corbelli.

However, Graham Titterington, principal analyst at Ovum, was less upbeat about SurfControl’s fortunes. “People will be disappointed; the slow growth will disappoint, but they are good results from a corporate standard.

“Geographical expansion, particularly in the US, has been below expectations. It is moving in the right direction, albeit slowly,” he said.

Corbelli said the vendor has been talking to distributors as part of its expansion plan. The firm signed with specialist security distributor EquIP earlier this year. EquIP was subsequently purchased by channel hybrid company Matrix.

“Our working relationship [after the acquisition] is operating in the same manner. When situations like this arise, it can be seen as an opportunity, or a threat. We see this as an opportunity,” Corbelli said