IceWeb (IWEB) manufactures, markets and provides network infrastructure solutions and online application services to federal, state, and local government entities on a global scale. The company’s network security products and services include firewall, intrusion detection systems, and security information management system implementation and management/monitoring along with e-mail security remote application processes. IceWeb also provides e-mail solutions along with online scheduling and meeting collaboration tools.
The company’s LearningStream.com product is an online business education portal that offers subscription-based online classes to consumers and corporate customers, such as managers, employees and trade associations. Virginia-based IceWeb sells its products and services through direct sales force, online marketing, and channel partners. IceWeb’s close proximity to Washington, D.C., the nation’s capitol, gives it easy access to an array of government customers. The company also garners business from small and medium-sized businesses.
Last month, IceWeb said fiscal third-quarter sales surged 64 percent to $6 million compared to $3.7 million for the same period in 2007. Sales for the nine months ended June 30, 2008 were up 16.4 percent at $14.1 million compared to $12.1 million for same nine-month period in 2007. The company reported sharp demand increases from government customers for storage, network and security solutions along with a solid rise in demand for enterprise software. The company’s fourth quarter and fiscal year ends on September 30.
IceWeb shares closed Monday at 14 cents on volume of over 64,000, about half the three month daily average. The shares have traded between 12 cents and 65 cents over the past 52 weeks. IceWeb has a market value of $3.19 million.
Let us hear your thoughts below: