RESEARCH TRIANGLE PARK, NC, January 7, 2004 - Webfargo Data Security, Inc., a premier provider of managed security services and information protection solutions, announced today that it saw its revenues increase in 2003 at a 105% gain over 2002.
Success was felt in every division of the company. Webfargo's managed services benefited most notably from the increase, with revenue rising 195%. Revenue from Professional Services rose 67%, while revenue from product resale rose 145%.
"This rise in revenues is indicative of several factors," said Tyler Salisbury, President and Managing Partner, "First, we have received great word-of-mouth advertising and referrals from existing clients, second, our sales campaigns have raised awareness in the marketplace and generated new business, and finally, Triangle companies are following a national trend of focusing their IT budgets on security - particularly proactive security. As the Triangle's only locally-based Managed Security Services Provider, we are experiencing that upturn firsthand."
Two important corporate partnerships were cemented in 2003. In April, Webfargo was able to become a SurfControl Authorized Partner, including STAR certification. In July, Check Point Software upgraded Webfargo's status to Authorized Value Added Solution Partner, reflecting Webfargo's increased commitment to and success in reselling and supporting their security products.
Webfargo added several notable clients in 2003 from the pharmaceutical, manufacturing, and clinical research industries. "We have seen a great deal of market growth in healthcare-related industries. Many of our clients are working with us in order to comply with HIPAA regulations, but probably just have many are undertaking new security projects in response to corporate growth in this sector," said Salisbury.
Salisbury added: "We are excited to build upon the positive momentum we have achieved in 2003. Going forward, we believe our current success along with our proven track record positions us well in 2004 and beyond."
About Webfargo Data Security
Webfargo was formed in 2001 by veterans of the Research Triangle technology industry to provide proactive security services and information protection solutions that empower companies to develop and enforce security policies, set and attain security objectives, monitor and respond to network events, and protect intellectual property and critical data in the enterprise and e-business. Webfargo is self-funded and has been profitable since its inception.
For more information visit www.webfargo.com, or call us at (919) 281-0175.