Revenues of Irish Internet security specialist Baltimore Technologies soared by 219 per cent to euro 116.5 million in the year 2000.
And revenues in the fourth quarter of the year, at euro 44.6 million, were higher than for the whole of 1999.
Increasing awareness among blue-chip companies of the need for secure systems for Internet transactions led to last year's record revenue growth, Baltimore's chief executive Mr Fran Rooney said today.
But the cost of investment and the group's rapid expansion - into 38 cities in 17 countries - meant pre-tax losses for the year widened to euro 147.9 million against euro 49.3 million last time.
The year 2000 also saw significant growth in the financial sector with major institutions such as First Data, Citibank, Visa International and Chase Manhattan adopting Baltimore's technology.
Contracts were also sealed with Britain's Ministry of Defence and the Irish Revenue Commissioners.
But the company conceded the economic slowdown in the US could have an impact on progress.
Mr Rooney said: "Along with other technology vendors, we are aware of the potential short-term impact of the downturn in the US economy. However, we remain confident about our full-year prospects and growth towards profitability."
PA