An internet security firm based in the Shannon Free Zone saw profits jump 70 per cent last year on the back of a 7 per cent rise in turnover.
Accounts for US-owned RSA Security Holding Ltd filed with Companies Office show a profit after tax of $24 million (€18 million) in 2005 - an increase of $10 million on 2004 profits.
The company, which employs 280 people, also paid a dividend of $46 million to its parent company in 2005, a year after it received a capital contribution from its US parent of $62 million.
Turnover at RSA's Irish operation rose to $120 million in 2005 from $112 million in 2004, with operating profit climbing $10 million to $26 million.
RSA produces e-security solutions aimed at protecting online identities and digital assets.
The company directors believe future revenues will be driven by "the increased awareness of digital identity theft", which "will drive organisations and consumers to adopt technologies such as strong authentication".
In a statement with the accounts, the directors also said "governmental regulations regarding the access to and distribution of private information will drive demand for the products and that, as national governments proceed with increased awareness and funding of cyber-security issues and focus on e-security, the company may benefit with increased revenue".
But the company also said: "Information technology budgets continue to be constrained, and the continued uncertainty in the economy and global affairs may affect revenue generated from the sales of the products in future quarters."
