Prophecy International’s Snare Achieves CA Veracode Verified Standard Status

Being part of CA Veracode Verified demonstrates commitment to produce secure software

Adelaide, Australia – June 12th, 2018 – Prophecy International today announced that it participates in CA Veracode Verified, a program that validates a company’s secure software development processes. With approximately 30 percent of all breaches occurring as a result of a vulnerability at the application layer, software purchasers are demanding more insight into the security of the software they are buying. CA Veracode Verified empowers Prophecy to demonstrate its commitment to creating secure software.

When purchasing software, customers and prospects are demanding to understand how secure the software is. As part of CA Veracode Verified, Prophecy can now demonstrate through a seal and provide an attestation letter from an industry leader that the application has undergone security testing as part of the development practice. Additionally, participating in the program ensures that our software meets a high standard of application security, reducing risk for the customer.

Organizations that had their secure development practice validated, and their application accepted into the Standard Tier, have demonstrated that the following security gates have been implemented into their software development practice:

  • Assesses first-party code with static analysis
  • Documents that the application does not allow Very High flaws in first-party code
  • Provides developers with remediation guidance when new flaws are introduced

Snare has been solving log monitoring and management problems around the globe for almost 20 years. It is the key piece in successful SIEM deployments from nearly every SIEM vendor and is trusted by private enterprises and government agencies alike for it’s ease of deployment and rock-solid architecture.

“Prophecy is committed to delivering secure code to help organizations reduce the risk of a major security breach. Companies that invest in secure coding processes and follow our protocol for a mature application security program are able to deliver more confidence to customers who deploy their software,” said Asha May, CA Veracode

“As an organization we have always put security first, so this was the next logical step to show our customers just how secure our applications really are and so they can rest easy knowing their security and compliance goals are not jeopardized by our software.” Said Steve Challans, CISO of Prophecy International.

About Prophecy International Holdings Limited

Prophecy International Holding Limited is a listed Australian company (ASX:PRO) that has been operating globally since the 1980s. More recently the focus at Prophecy has been on growing the eMite and Snare lines of business. eMite service intelligence platform combines analytics, correlation, capacity, and performance, availability, and SLA management into a single, out of the box solution to provide customers with real time insight. The Snare product suite is a highly scalable platform of security products designed to find, filter and forward event log data. Snare log sources include Windows, flat files, databases, Linux, Mac and Solaris with coverage for desktops and servers.

Prophecy operates globally from Adelaide and Sydney in Australia, London in the United Kingdom and in Denver, USA.

You can see Prophecy listed in Veracode’s directory here: https://www.veracode.com/verified/directory/prophecy-international

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Prophecy International participates in Australian Cybersecurity delegation to USA

As Cybersecurity continues to dominate as a key issue for companies and governments worldwide, Prophecy International recently joined a handpicked Australian delegation to the USA, led by AustCyber and in partnership with Austrade.

The delegation travelled first to Washington DC for one on one meetings with key US government departments and companies before attending the 2018 RSA Conference held in San Francisco from 16-20th April, 2018.

Prophecy CEO, Brad Thomas said, “It was a privilege to join a group of world class Australian Cyber companies that have already developed products and services to address real world challenges faced by companies and governments around the world.

The Australian Industry is as good as any in the world and we, as a country and, as a company are bringing innovation to a global market worth USD$100B per annum.”

The annual RSA conference attracts approx. 50,000 delegates from around the world who experience an impressive line-up of speakers as well as an exhibition floor showcasing the latest innovations and threats in cyber security.

Prophecy International’s core cyber security product Snare, is a highly scalable platform designed to find, filter and forward event log data.

With an already impressive footprint of US customers in both federal government and the Defence industries, CEO Brad Thomas reinforced the important role  of Australian companies can play in combatting global cyber threats.

“Snare is uniquely positioned to capitalise on the growing awareness of Australia as an important partner and participant in the effort to keep companies and governments secure and to protect critical data and private information. Our core log management technology continues to be a crucial and fundamental piece of any cyber protection or compliance strategy.”

For further information – please contact:

Media contact

Christine Bishop
Chief Marketing Officer
Prophecy International
+61 418 181 352
cbishop@prophecyinternational.com

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FY16 First Half Sales

View the Company Announcement for 15th Jan, 2016

FY16 First Half Sales

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FY15 Expected Results

Company Announcement 22nd July, 2015

  • Record results expected for the full year
  • Revenue expected to be at $9.95 million
  • Underlying normalised profit before tax expected to be $4.1 million
  • Total company revenue growth over 40%
  • Underlying normalised profit before tax growth over 110%
  • SNARE new sales growth over 200%
  • SNARE total revenue growth 130%

As already reported, Prophecy has had a spectacular year with its new sales growth for the SNARE software set. This growth has continued through June and has delivered record results through to the end of our financial year.

As a result of our successful sales efforts, overall company revenue has come in at $9.95 million for the full financial year. This compares to a revenue figure of $ 7.1 million for last year and represents an overall revenue growth of 40% for the group business. The half year revenue was $4.4 million.

These expanded revenue numbers have produced a full year underlying normalised profit before tax of $4.1 million. By comparison, last year’s underlying normalised profit before tax was $1.69 million. The profit growth on that basis is 140% . It is very pleasing to report that we have doubled the half year underlying normalised profit before tax figure of $2.0 million.

The SNARE business has grown in leaps and bounds, with growth in new sales for 2015 standing at more than 200% over 2014, after excluding the impact of currency fluctuations. June was a record month and rates as our best sales month ever for SNARE, giving the team its highest quarterly sales result by far as well as a record full year result. This is an outstanding effort by our sales team.

Revenue for the SNARE business as a result grew by 130% in the year to be just shy of $6 million. This ran a long way ahead of our original target and budgets for the full year and augurs well for 2016.

A fully franked dividend is expected to be approved at the level of at least 2 cents per share to complete the full year payout with at least 4 cents per share.

The momentum in SNARE sales growth has already continued into July with $0.5 million in new sales achieved to date. Forecasts indicate that July has the potential to be the second best sales month ever, after the June record month for SNARE sales.

The FY15 financial results still need to pass through the full audit process, which is due for completion in August. In the process, the board will review the carrying value of all assets and recommend any write downs where appropriate across the legacy business lines.

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