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Zix's CEO Discusses Q4 2011 Results - Earnings Call Transcript

Stocks in this article: ZIXI

For the year, new first year orders were $7.1 million compared to the $8.7 million for 2010. The $7.1 million in the new first year orders for 2011 is up 9% when compared to 2009, but is down when compared to the record year we had in 2010.

The slowdown in new first-year orders in 2011 when compared to 2010 is largely attributable to two key factors. First, in the first quarter of 2011, our new sales were affected by some one-time events; a reorganization in our corporate sales force and then tsunami in Japan to name two. Secondly, customers were slow to pull the trigger on news orders during much of 2011 due to the overall uncertainty in the economy.

As we entered 2012, we believe these factors and headwinds we encountered in 2011 are now behind us. We have stability in our sales force, the economy has certainly turned the corner, our team of partners, OEMs, WARs and MSPs is as solid as ever. Our sales pipeline and lead flow is strong and we are encouraged by our opportunities for growth going forward. Our technology is as strong as ever too.

We’ve implemented key technology platform upgrades designed to make our solutions easier and easier to use. Current data available in the market estimates that there are approximately 120 million business email users in the United States with only about 12 million or 10% of those heading some sort of email encryption. So the penetration is relatively low, and the upside is significant.

We believe that the key to increased adoption in the market place is directly related to ease of use. So by expanding our leadership in this area, ease of use, we expect the impact growth in two ways. First of all, greater usage and adoption overall growing the entire market, and secondly, further differentiating our solution to garner greater market share.

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