VirtualArmour Reports Third Quarter 2016 Financial Results

VirtualArmour International (CSE:VAI), an IT solutions provider that helps companies build, monitor, maintain and secure their networks from cloud to core, have announced third quarter financial results for the three-month period ended September 30, 2016. All figures are in USD unless otherwise stated.
As quoted in the press release:

“I am pleased to report that VirtualArmour delivered another great quarter of growth as evidenced by our 25% year over year growth in our multi-year recurring revenue managed security services business,” said Matthew Brennan, President of VirtualArmour. “Since the beginning of the year we have continued to attract industry leaders in a variety of verticals to use our holistic security solutions platform to manage their network. Our services have been well received as many of these initial sales have turned into long term contracts as exhibited by our growth in the managed services business. A large contributor to our success has been our ability to provide a customized service for each customer which has led to a high retention rate.”
“Looking into the remainder of 2016 and 2017, we are committed to expanding our footprint as an IT solutions provider on a global scale,” continued Matthew Brennan. “This includes bringing on key personnel in our managed services side of the business which provides us with a predictable and recurring source of revenue, growing our cloud based solutions tailored to specifically target networking and security functions within a large organization, and continuing to partner with the best cybersecurity technologies in the market place today.”

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