Jon Swartz | February 07, 2018

Proofpoint Picks Up Key Acquisition, Another Winning Quarter

As seen on Barron's...

Enterprise security company Proofpoint (ticker: PFPT) picked up its largest acquisition -- and another winning financial quarter -- on Tuesday.

On Wednesday, Chief Financial Officer Paul Auvil called the $225 million purchase of Wombat Security Systems a "nice little piece of the puzzle" in Proofpoint's security strategy. It will slot in as a defense for security compliance beyond firewalls, he said in a phone interview.

Proofpoint shares, which has been trading near a 52-week high of $104.62, reported its 24th straight quarter of better-than-expected revenue and earnings.

Its fourth-quarter revenue of $145.4 million rose 36% year over year on the strength of customer additions, renewal rates and add-on-sales. 

On a per share basis, the company reported non-GAAP earnings of 29 cents, an improvement of 61% from the same quarter a year ago.

Read this article on Barron's