Tom Noonan, president and chief executive officer for ISS, said the play would accelerate his company's solution and services strategy. ISS also sealed the deal concurrently with its fiscal 2001 earnings per share announcement. The assumption for EPS excludes the impact from this acquisition of expense from amortization of goodwill and intangible assets and non-cash compensation charge due to unvested options. And ISS has actually been profitable. This was in line with analysts expectations.
Security is a potentially lucrative sector in a bear market for firms who approach it right.
For example, as Web sites become more detail-oriented and make use of evolving technologies, the need for new security applications increases. More and more companies are using the Net for e-commerce, where credit card numbers and all types of personal identification are housed. Naturally, the threat of data theft and other similar compromises rises, paving the way for firms with security know-how to step in to sell their products. ISS' Noonan said his company noticed a drop in corporate spending in November. To make up for it, the company focused on its best customers, a move Noonan said paid off handsomely.