A SHANNON-based internet security firm enjoyed almost a 10-fold increase in operating profits to $4 million (€2.9 million) last year, new figures show.
According to returns just lodged by US-owned RSA Security Ireland Ltd, the company’s operating profits last year increased from $409,415 to $4 million to the end of December last.
The figures show that the company’s revenues last year increased from $232.2 million to $237.2 million.
The company recorded a pre-tax profit of $4.1 million, according to the returns. This followed the company recording a pre-tax loss in 2008 of $6 million. The provision of $7.4 million against an investment in a subsidiary company was the reason behind the loss.
The figures show that the company’s administrative expenses last year decreased marginally from $199 million to $198.2 million.
A payment of $1.1 million in tax resulted in the company having after-tax profits of $2.9 million.
The principal activity of RSA Security Ireland Ltd is the manufacture, licensing and sale of electronic security solutions. The directors state that “RSA Security Ireland Ltd and its subsidiaries are experts in protecting online identities and digital assets”.
They add: “RSA is ushering a new information centric approach to security that will empower leading companies worldwide to address these challenges and move ahead with the confidence to complete and win in today’s marketplace.”
Referring to market conditions, the directors state that there has been significant activity in the software sector during the past 12 months.
They state that RSA “continues to grow its activities in this area”.
The figures show that RSA Security employs 43 people at Shannon with its staff costs last year decreasing from $3.3 million to $3.1 million.
RSA is the security division of EMC Corporation. The directors state that on October 1st last, RSA Security Ireland Ltd was transferred to EMC Information Systems International and following the business transfer, RSA Security Ireland Ltd will become dormant.
The figures show that the largest proportion of the company’s business is carried out in the EU with $99 million in sales recorded. The UK accounted for $63 million of sales with the “Rest of the World” accounting for $55.6 million.
