Zix Corporation (NASDAQ: ZIXI) had $1.2 million in new orders for its e-mail encryption software in the third quarter. In a report issued this week, CEO Rick Spurr highlighted the new orders as one of several postive trends for ZixCorp.
Those new orders were among $5.2 million in total orders in the 3Q, with a 95-percent renewal rate for current customers and clients. The company projects a cash balance of $13.1 million to end the third quarter, up slightly over $13 million in the 2nd quarter.
Those second quarter results are to be released after the close of financial markets on Oct. 28. Spurr said figures this year show the company is positioned well for future growth.
“The positive cash flow from operations for the third quarter 2008 highlights the corner we’ve turned this year when compared with the $550,000 cash burn for the third quarter of last year,” Spurr said. “This … we believe, will enable us to take advantage of recent catalysts in our core markets to achieve acceleration in our businesses.”
ZixCorp, the only e-mail encryption vendor operating completely in a subscription SaaS (Software as a Service) model now has more than 12 million members of the ZixDirectory of secure identities. The company also has several OEM partners, which continue to help drive orders. That includes Code Green Networks, its newest OEM partner.
PocketScript, the company’s online medical prescription service, also does well for ZixCorp, drawing customers from the medical and pharmaceutical professions. Spurr said the service is particularly suited to medical centers and practices with five or fewer physicians.
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