FireEye Missed Its Q4 Estimates And Will Also Be Losing Executives

fireeye cyber security
FireEye released its fourth quarter reports and announced that two of its executives are leaving.

Earlier this week, FireEye released its fourth quarter reports, which were lower than the market estimates. Also this week, the company announced that David DeWalt and Mike Berry will be leaving the company.

FireEye is an enterprise cybersecurity company. It was founded back in 2004 and is based in Milpitas, California. The company offer protection serves and products. These are meant to protect against advanced cyber threats. Such problems can include the following. Spear phishing or advanced persistent threats.

FireEye services span across 67 countries. They also include over 4,400 customers, including Forbes Global 2000 names. But the cyber security company has been having some issues of its own.

Earlier this week, FireEye released its fourth quarter earnings report. And it fell below market expectations. The company reported a net loss coming up to $61.5 million. This translates into a 0.37 cents per share loss. Its quarter revenue was valued at $184.7 million.

These values were released on late on February 02. Following adjustments, the reports saw a slight increase. Stock-based compensation, as well as other factors, were included.

As such, the company reached a $191 million sales value. This translated into a 0.03 cents a share loss. The value beat analyst expectations. They had estimated a final 0.16 cents loss per share.

FireEye reported billings coming up to $221.8 million. Their Q4 total also came below market estimates. Analysts had approximated a $240.3 million billings value. This latter was based on the company itself. FireEye projected that it would be placed in between $230 million to $250 million.

The cybersecurity company also presented its first quarter forecast. Its projections place the revenue in between $160 million to $166 million. The billings are also placed to fall in between #130 million to $150 million.

FireEye’s quarterly estimates are also lower than expected. Market analysts had placed the revenue sum at around $176.8 million. And the billings were placed at about $186.9 million.

FireEye also released another announcement this week. The company revealed that David DeWalt will be leaving his current position. DeWalt has been filing the executive chairman role. Previously, he was also the company CEO. Before joining FireEye, Dewalt was also the McAfee CEO.

David DeWalt was the FireEye Chief Executive Officer up until May 2016. At the time, he was replaced by Kevin Mandia. This latter is the CEO and founder of Mandiant.

But DeWalt will not be only one to leave. FireEye will also be losing its CFO. Presently, the Chief Financial Officer position had been filled by Mike Berry. Also on February 02, this latter announced the following.

He will be leaving FireEye so as to “pursue another opportunity”. Following his departure, the CFO position will be filed by Frank Verdecanna. Currently, Verdecanna is the Vice President of Finance. He is also the Chief Accounting Officer.

FireEye also released a full year forecast for 2017. It did not offer or promise specific numbers. Instead, it promised that the current year will see a better billings trend. And also a higher revenue one. The company also stated that 2017’s second half will be seeing a “renewed organic growth”.

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