Endace provide IT network security systems which reduce CPU load and enable 100% of packets to be inspected.

The Endace Blurb:
Endace is the world leader in the acceleration of network security and analysis applications.

Endace products include cards and optimised platforms, which deliver:
100% capture of network traffic irrespective of line rate/packet size
Near-zero CPU loading during data transfer to host
Flexible, Hardware-based offload of software functions


Useful Links
Endace website
14 Nov 06 : Interim Results
10 Apr 07 : Major US Ninjaprobe Contract
13 Apr 07 : Trading Statement - results "significantly ahead of market expectations"
14 Apr 07 : Guardian Comment on Endace and broker target raise
19 Apr 07 : Endace CEO, Selwyn Pellet, on ASB Business television
24-26 Apr 07 : InfoSecurity Europe Exhibition - Endace whitepapers and info
1 May 07 : Yahoo/Computer Business Online - Endace Plans App Modules for NinjaProbe
15 May 07 : Ninjaprobe 40GB/s Product Launch
16 May 07 : Agreement With Verint Systems
22 May 07 : Final Results
22 May 07 : Appointment of Chairman and CEO
22 May 07 : ZDnet Distruptive Technologies Blogger's Video on Endace
11 June 07 : Endace bosses sell large number of shares
29 June 07 : New Endace CEO, Mike Riley, interview on WallStreetReporter.com

Upcoming Events
none to report at present

I saw trading statement on this one and was immediately drawn to look at this further when I saw those immortal words - significantly ahead of market expectations - I researched further and found this thread posted by ValueMax - I could see brokers 187 target was prior to trading statement and jumped on at 157. All thats left to say is Thanks very much ValueMax -I probably would have bought this anyway but your postings made up my mind a whole lot quicker.

Nice to hear you made a few bob, keepitreal. If you have found any new info in your research, feel free to post it on here and i'll add the best bits to the header.

By the way, the broker target was raised from 187p to 215p at the end of last week, and everything looks good for further rises leading up to 22 May.

VM, I am thinking about getting involved. Haven't got any spare cash at the moment, though, so have been taking risky punts using T+20 trades as a kind of mini-CFD.


Will keep an eye on this one, anyway!

Further incentive for IT security spending: BBC News - Consumers 'shun' hacked stores

Computerworld (New Zealand) - Endace growth constrained by lack of talent
Despite posting over 50% year-on-year growth, company feels the pinch
By Rob O'Neill Auckland | Wednesday, 18 April, 2007

New Zealand network appliance developer Endace has posted stellar year-on-year results, but says its growth is being constrained by a desperate lack of engineering talent.

Endace, which makes technology that monitors traffic on high-speed networks, has announced it anticipates sales in the US$16.5 to US$17 million (NZ$22 to NZ$22.9 million) range for the year ended 31 March and a profit north of US$3.4 million. That compares with sales of US$10.8 million last year.

Endace, which became the first New Zealand registered company to list on the London Stock Exchange's alternative AIM market in mid 2005, could have done even better, according to CEO Selwyn Pellett if it could find and hire more engineers.

"We are seriously struggling to recruit," Pellett told Computerworld this week. "We are even printing booklets about why people would want to come and work for us and targeting international recruitment."

Two months ago, Endace launched a local recruitment campaign, but that has not succeeded in feeding the company's hunger for engineering talent.

"It is restricting our growth," Pellett says. "The numbers could have been bigger if the engineering team was larger."

That's because Endace is moving its industrial-strength network monitoring technologies into appliances that can be easily installed in organisations such as telecommunications companies, ISPs and large corporates.

Pellett says the strategy is directly responsible for Endace's revenue and profit growth. The appliances average in price around US$20,000 to US$40,000 each compared to selling component cards, as the company did previously, at US$5,000 to US$6,000 each. Endace has recently sold one appliance to monitor a 40GB network for US$250,000.

As to the AIM listing, Pellett reports mixed results. He says its a good place to raise money, but stocks don't become liquid, or actively tradeable, until a company crosses around US$50 million in revenue.

That would certainly appear to be the case if you compare the values of Endace and New Zealand Exchange listed Rakon. Endace is still trading around its list price while Rakon is trading at $4.60 compared with its $1.60 offer price in May 2006.

Covered in today's Shares Mag (page 10): "Endace Refuses To Rest On Its Laurels". No new info in the article, but good coverage nonetheless.

Endace will also get a mention in next week's Shares Mag in the AIM guide. I expect them to give a buy recommendation.

(just noticed that I also get a mention this week at number 96 in the champion investor league!)

Endace CEO, Selwyn Pellet, on ASB Business television

Another gem Valuemax - just watched this vid. - profit projection very interesting and current market value of around 27.3m seems very low. Shares had a good move today in a tricky market. Valuemax - Have a look at my post on Minoan on IPO thread - looks interesting

I think he may have said 17million GBP in the video by mistake - should have been $17million US.

I read up on Minoan. To be honest, I know nothing about Greek tourism or propery. The shares I tend to go for are either oil or IT related, both industries I have worked in and understand. I'll have a read of the admission document when it is published though. Thanks for pointing it out.

Endace whitepapers and info from the Infosec exhibition, taking place the past 3 days.

Incidentally, Shares Mag had Endace as a 'hold' this week in their AIM review, but the info was taken from 10 Apr, before the trading statement (maybe before the contract RNS too). Due an upgrade I think!

Just broken through 2 for the first time.

Article on Yahoo: Endace Plans App Modules for NinjaProbe

Network-monitoring hardware developer Endace plans to launch two application modules for its NinjaProbe appliance, one for flow analysis and the other lawful intercept, with plans to follow them with IDS and protocol analysis modules.

The Manukau City, New Zealand-based company develops the infrastructure for high-speed traffic analysis, whether for security-related or performance-related applications. Its claim to fame is its Data Acquisition and Generation technology for which it claims 100% data capture, at full line rate and with any size packet. Among its core capabilities is the offloading of 95% of the burden of data transfer from the CPU, which frees up capacity for data inspection.

Founded in 2002, Endace initially delivered DAG on network cards, with versions for all interfaces from 10/100 through to 40Gb. Last year it expanded into appliances with the NinjaProbe line, a 3U chassis that fits between four and six cards. It sells the appliance with a series of open source apps to run on top, including SNORT and Bro IDS, NTop, and FProbe for NetFlow analysis.

Now it will be offering preconfigured modules for flow analysis and lawful intercept, which Greg Howard, its VP of sales for EMEA, said are scheduled for launch early next quarter. He said the IDS and protocol analysis modules will follow later and there are also discussions underway with ISVs interested in porting their apps to the box, in some cases to sell it with their branding in an OEM relationship.

This stock moves on thin volume both ways but I now rate this very highly with the market makers obviously aware that more positive news expected with figures due in a couple of weeks. Trend definitely up but expect occasional short term retracements on profit taking.

Heading towards a pount profit per share in the past month.

Results and strategy update due a week on Tuesday. As you said, Keepitreal, this moves on thin volume, so if the update is well received by the market this could be heading over 3.

Works both ways though, so I'll be setting my stoploss fairly high prior to the 22nd.

From ABCMoney:

TUESDAY MAY 22

AIM-listed network monitoring company Endace PLC is expected to turn in a strong full-year performance, after the group announced in April that results would be significantly ahead of market expectations.

The company is benefiting from the recent launch of its NinjaProbe appliances, used to offer application-independent monitoring for combined traffic capture, which it has said will make a significant contribution.

Endace also flagged up strong sales growth across all regions, but highlighted North America in particular, noting that Data Acquisition and Generation card products will make a substantial contribution.

The group said it would also provide further details of its plans to take the company through its next major stage of development and growth at the final results.

In its trading update last month, Endace said it expects to report revenues in the range of 16.5 - 17.0 mln usd for the year to March 31 2007 compared with 11.0 mln usd in the prior year.

Endace also predicted a profit before foreign exchange gains and tax in the range of 3.4 - 3.7 mln usd from 0.7 mln usd previously.

Broker Panmure Gordon is forecasting EBIT of 2.95 mln usd. It expects EPS of 14.00 cents, up from 7.44 last time. No dividend is expected.

Endace Limited
15 May 2007


FOR IMMEDIATE RELEASE 15 May 2007

ENDACE LIMITED

WORLD'S FIRST 40 GIGABIT MONITORING APPLIANCE
JOINS ENDACE NINJAPROBE FAMILY

Newest NinjaProbe appliance enables carriers to
analyse every packet traversing OC768 links

Endace Limited ('Endace'; LSE/AIM: EDA), a world leader in network monitoring
solutions, today announced the NinjaProbe 40G1, the first monitoring platform to
support next-generation network links using transmission rates up to 40 Gigabits
per second (40 Gbps).

The announcement of the NinjaProbe family in March of this year introduced the
first application-independent monitoring infrastructure providing complete
coverage for networks up to 10 Gigabit. With the introduction of the NinjaProbe
40G1 the lossless traffic capture capability of the NinjaProbe appliance family
has now expanded to 40 Gbps.

'The NinjaProbe 40G1 is a pioneering product delivering core network monitoring
infrastructure to handle the highest speeds currently deployed in
telecommunication carrier networks,' says Mike Riley, VP of Worldwide Marketing
for Endace. 'The continuing expansion of the NinjaProbe family provides our
customers with the ability to choose how and where they will monitor their
networks with tools that keep pace with their transmission technologies.'

By deploying 40 Gbps, OC768 Synchronous Optical Networking (SONET) links at the
core, telecommunication carriers are scaling their network infrastructure to
support the increasing bandwidth demands of content-rich multimedia
applications. The NinjaProbe 40G1 passively captures all traffic at 40 Gbps with
the ability to distribute all or selected portions of the data flows, among
multiple 10 Gigabit NinjaProbe appliances. The extensive processing which Endace
equipment can apply to every packet in an OC768 link enables carriers to
analyse, store, and forward network data to other applications and equipment -
including legacy equipment that would otherwise be unable to examine 40 Gigabit
traffic.

Leveraging Endace Data Acquisition Generation (DAG) technology, NinjaProbe
appliances can be deployed for monitoring across the range of carrier network
topologies, providing lossless capture for complete network visibility. A common
secure management layer enables remote configuration and control of probe
deployments by multiple user groups. Carriers now have the flexibility to
implement numerous analysis solutions across their networks using the same
network monitoring infrastructure.

For more information about the NinjaProbe family please contact

sales@endace.com

http://www.investegate.co.uk/Article.aspx?id=200705160701516665W

Another RNS: - Agreement with Verint Systems

Final Results are due on Tuesday.

From the April trading statement:

The company anticipates reporting revenues in the range of US$16.5 - $17.0 million (2005/6: $11.0 million). Strong revenue growth and firm control of costs have resulted in a profit before foreign exchange gains and tax expected to be in the range of US$3.4 - $3.7 million (2005/6: $0.7 million).

The Board is working on detailed plans to take the company through its next major stage of development and growth; further details will be provided at the time of the final results announcement.

Final results show revenues at top end of trading statement plus profits slightly above top end estimate.

Financial highlights

Revenue increased 55% to $17.0m (2006: $11.0m).

Profit before tax and foreign exchange movements rose 356% to $3.74m
(2006: $0.82m).

Pre-tax profit was up 153% to $3.92m (2006: $1.55m).

Net cash at the year end was $3.5m (2006: $6.7m).

Operational highlights

The NinjaProbe appliance family was launched successfully.

US$2m NinjaProbe shipment to a leading US based telco.

Signed a technology licensing agreement with Sprint Nextel Corp (NYSE:
S), a world leader in communications services, for two of its network
traffic products.

Launched new Application & Channel Partner Programmes to drive sales
through software vendors and systems integrators.

Delivered 40 Gbps/OC768 monitoring solution to major US telco.

Board changes announced today: Selwyn Pellett to become non-executive
Chairman, John Scott to become Deputy Chairman and Mike Riley to become CEO.