Edgewave (GREY:EWVE)

"Continued focus on our operational execution enabled us to deliver greater efficiency during a difficult economic environment," said Lou Ryan, CEO of St. Bernard Software. "Moreover, this focus enabled the company to generate positive cash flow and non-GAAP income. Our ability to achieve growth in key areas such as the mid-enterprise market, while substantially reducing operating costs, positions us well as we move into 2010."

Mr. Ryan added, "Our lower Total Cost of Ownership (TCO) position and focus compared to that of our main competitors has resonated with the mid-enterprise market and we intend to build on this position throughout our offerings in 2010. We believe that economic pressures will continue to prompt IT departments to review all operations including key security areas like web gateway security and that our iPrism offering will resonate with them as well."

Source: Market Wire (March 29, 2010)