Websense Tops Estimates - TheStreet

Websense Tops Estimates

Its SurfControl acquisition gives revenue a boost.
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SAN FRANCISCO --

Websense

(WBSN)

swung to a first-quarter loss but the IT security company beat analysts' earnings expectations.

The company lost $6.2 million, or 14 cents a share, compared with a profit of $3.8 million, or 9 cents a share, a year ago.

Excluding acquisition-related charges, net income for the quarter was $17.6 million, or 35 cents a share. Analysts were expecting 30 cents a share.

Including about $20 million of subscription revenue from its SurfControl acquisition, Websense's revenue jumped to $86.5 million from $49.7 million a year ago.

Analysts were expecting revenue of $84.8 million.

For the full fiscal year, Websense said it expects revenue of $325 million to $335 million and earnings, excluding items, of $1.15 to $1.25 a share.

Analysts were expecting revenue of $334.5 million and earnings of $1.23 a share.

Shares of Websense were up a penny to $20.30 in recent extended trading.

The company's outlook, along with a strong report late Wednesday from sector giant

Symantec

(SYMC) - Get Report

, suggests companies in the IT sector feel confident about weathering the economic slowdown.

Symantec shares rose $2.12, or 12.3%, to $19.34 after the company

beat analysts' expectations

and offered strong outlook for the current quarter.

Last week,

McAfee

(MFE)

offered second-quarter revenue outlook that was above analysts' expectations; its stock closed higher $1.48, or 4.4%, to $34.73 Thursday.