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Thursday, December 5, 2019

=SecureWorks (SCWX) reported earnings on Thur 5 Dec 19 (b/o)

SecureWorks beats by $0.04, beats on revs; guides Q4 EPS above consensus, revs above consensus
  • Reports Q3 (Oct) earnings of $0.01 per share, excluding non-recurring items, $0.04 better than the S&P Capital IQ Consensus of ($0.03); revenues rose 6.2% year/year to $141.33 mln vs the $136.12 mln S&P Capital IQ Consensus.
    • Non-GAAP gross margin was 59.2 percent compared with 56.0 percent in the third quarter of fiscal 2019.
    • Adjusted EBITDA was $5.8 million, compared with $8.6 million in the third quarter of fiscal 2019.
  • Co issues upside guidance for Q4, sees EPS of ($0.01)-$0.00, excluding non-recurring items, vs. ($0.03) S&P Capital IQ Consensus; sees Q4 revs of $138-140 mln vs. $137.07 mln S&P Capital IQ Consensus.

  • SecureWorks names Paul Parrish CFO, effective December 9th
    Parrish joins Secureworks from CIOX Health LLC, a $680M health information management company where he served as CFO and was instrumental in transitioning the company's business focus from services to SaaS. He succeeds Wayne Jackson who has served as CFO of Secureworks for more than four years. Jackson's planned move was announced in March, and he will stay on to assist in the transition through the end of the company's fiscal year 2020.

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