Prism Microsystems achieves record 3rd quarter revenue growth

Record quarter driven by increasing number of competitive wins, strong Government sector performance and technology innovation

Columbia, MD – Prism Microsystems, providers of EventTracker, a leading Security Information and Event Management (SIEM) solution, today announced that it achieved record 3rd quarter revenue, representing 100% year-on-year growth. EventTracker’s customer base continued to expand rapidly with the addition of over 40 new companies across multiple verticals including Government, Education and Banking, taking the customer tally to over 750 midsize enterprises worldwide.

“In Q3 2008, we continued aggressive growth, fueled by strong performance in the Government sector, technology innovation and bake-off wins against competitors such as Arcsight and Loglogic” said Steve Lafferty, VP of Marketing at Prism Microsystems. “Prism’s focus of delivering one of the most comprehensive SIEM solutions in the market at unbeatable value to the midsize enterprise has been key to winning new customers and driving record growth.”

Revenue growth was further supported by the introduction of a new version of EventTracker that delivers capabilities for protection against an increasingly prevalent threat – insider abuse. While other SIEM solutions are able to only monitor USB device inserts/removals, EventTracker’s latest version offers advanced data protection by also monitoring files written to/deleted from external devices and enabling forensic analysis by tracking an internal breach to a specific system, user or time-period. Also in the third quarter, EventTracker won the Network Products Guide Reader Trust award for best in Event Management and Computer Forensics.

“EventTracker has one of the most robust feature-sets in the SIEM space, allowing our customers to meet a variety of requirements and realize multiple benefits of compliance, improved security and hard-dollar savings in IT operations” said A.N. Ananth, CEO at Prism Microsystems. “As we head into a period of flat or shrinking IT budgets and tactical deployments mapped to specific requirements, a number of factors favor EventTracker including comprehensive features, superb scalability and sizing and competitive pricing.”

During the 2nd and 3rd quarters, Prism strengthened its sales execution and continued to win customers in competitive bakeoffs – New customers included the US Air Force Base Langely & Hulbert Field; US Bureau of Labor and Statistics; Northrop Grumman; University of Texas; University of Pennsylvania; Deloitte Sydney and a number of regional banks and credit unions.

About Prism Microsystems

Prism Microsystems, Inc. delivers business-critical solutions to consolidate, correlate and detect changes that impact the performance, availability and security of IT infrastructures. EventTracker, Prism’s market leading enterprise log management solution combines Security Information and Event Management (SIEM) with Change Management to defend critical IT assets from emerging and traditional cyber attacks and ensure compliance with regulatory standards. Recently featured by Gartner on its ‘Magic Quadrant for Security Information and Event Management, 1Q08’ report, Prism’s solutions are designed specifically for the needs of midsize enterprises and are easy to use, feature rich and highly scalable. With over 650 customers in 50 plus countries, EventTracker is deployed in multiple sectors including government, financial, retail and healthcare.

Visit www.eventtracker.com for more information. Follow us on Twitter @logtalk.