SAN JOSE, Calif., April 26 /PRNewswire-FirstCall/ -- Secure Computing Corporation (Nasdaq: SCUR), a leading enterprise gateway security company, today announced first quarter GAAP revenue of $53.8 million. This represents a 26% increase in revenue compared to $42.6 million in the same quarter last year. First quarter non-GAAP revenue was $60.5 million. This represents a 42% increase compared to the same quarter last year. On a GAAP basis, net loss was $10.6 million or $0.18 per share. First quarter non-GAAP net income was $3.4 million or $0.05 per fully-diluted share. The company generated $12.0 million of cash from operations and reduced the long term debt balance by $12.0 million. Billings for the quarter were $66.3 million, a 67% increase compared to the same quarter last year.
"Our team's solid performance in Q1 was a continuation of the momentum that we built in Q3 and Q4 of last year," said John McNulty, chairman, president and chief executive officer of Secure Computing. "I believe our results over the last three quarters illustrate the strength and synergy of the acquisitions we made last year. Looking ahead, I believe Secure Computing's unique balance of product leadership coupled with a strong worldwide sales organization and a superb reseller channel, positions the company to become the undisputed leader in the enterprise gateway security market."