For David DeWalt, the CEO of McAfee (NYSE: MFE), it's been an extremely busy quarter. He traveled to 15 countries and met with over 500 customers. He even gave 11 executive keynote addresses (actually, I'm not sure if DeWalt sleeps).Well, the hard work is paying off, as seen with McAfee's latest quarter results. Revenues came to $396.8 million, up 26% over the past year. Earnings were $47.8 million, or $0.30 per share (see more of today's earnings news).
McAfee continues to build on its product offerings (the company is the #2 player in the security space). In fact, the company snagged 21 deals over $1 million.
What's more, McAfee announced the purchase of Reconnex Inc. for $46 million. Essentially, the company develops sophisticated technology to monitor data on networks (which is done through appliance computers). Reconnex has about 1.5 million managed users.
Interestingly enough, DeWalt wrote a blog post about the deal (yes, I'm not sure how he finds the time to blog too). According to him:
"Reconnex, coupled with our current data protection solutions, gives us the network and endpoint presence that will allow us to leapfrog all other data protection vendors and reinforces our position as the largest dedicated security provider."
So far in today's trading, McAfee's stock is up 8.43% to $35.51.
Tom Taulli is the author of various books, including The Complete M&A Handbook
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