Stonesoft Stock Jumps on Security Software Profit PushKati Pohjanpalo
Stonesoft Oyj jumped to the highest in almost 11 years in Helsinki trading after forecasting its first profit in a decade because of growing sales of its computer security software.
Stonesoft surged as much as 22 percent to 2.15 euros, the highest intraday price since March 2002, and was trading up 18 percent at 2.07 euros at 1:58 p.m. in the biggest increase on the Nasdaq OMX Helsinki all-share index. Volume was more than twelve times the three-month daily average. The stock has more than doubled in the last 12 months.
Fourth-quarter sales rose 41 percent to 13.4 million euros ($17.4 million), Helsinki-based Stonesoft said yesterday in a statement. Earnings before interest and taxes in 2012 were “positive,” it said. The software producer had earlier projected a result near break-even. It has posted operating losses since at least 2000.
Stonesoft makes software to protect computer networks from threats including cyber attacks and attempts to bypass security detection. It is scheduled to release detailed earnings figures for 2012 on Feb. 8.