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Shares in cybersecurity firm FireEye tick up amid mixed results

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Investing.com -- Shares in FireEye Inc (O:FEYE) posted modest gains in after-hours trading, as the California-based cybersecurity firm reported record billings and revenues last quarter in spite of widening losses.

For the fourth quarter of fiscal year 2015, finished with revenue of $184.8 million, an increase of 29% annually, as well as billings of $256.9 million, an increase of 21% from the same period in 2014. In came as demand continues to surge, amid a wave of terrorist attacks around the world over the final three months of 2015.

"We made tremendous progress in 2015 on our multi-year journey to build the world's leading advanced threat management platform," said David DeWalt, FireEye chairman of the board and chief executive officer. "On a year-over-year basis, we grew billings 35 percent, increased revenue 46 percent, added nearly 1,200 new customers, and expanded our international presence.

"We also made progress on our path to profitability, generating record annual cash flow from operations and improved operating margins."

Still, FireEye's losses rose by nearly 29% to $136.1 million or 0.87 per share, as its expenses soared by 20% to $245.1 million.

Earlier this month, FireEye completed its acquisition of Invotas International Corporation, a provider of security automation and orchestration technology. It followed the company's merger with iSIGHT on January 20, a deal which the company said will create the world's most advanced and comprehensive private cyber threat intelligence operation.

Also on Thursday, FireEye announced that Mandiat founder and FireEye president Kevin Mandia has been appointed to its Board of Directors.

"Our recent acquisitions of iSIGHT and Invotas further extend our platform and expand our addressable market, and I'm looking forward to working with Kevin, the rest of the board, and the entire FireEye team as we continue to reimagine cyber security," DeWalt added.

Shares in FireEye added 0.04 or 0.32% to 12.45 in after-hours.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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