back to article Profit-disaster CEO at Blue Coat: I'll get my coat

Blue Coat boss Michael Borman has fallen on his sword following declining sales and profits in fiscal first quarter 2012. The web security and WAN optimisation minnow saw sales come in at $109.5m (£66.7m) down 9 per cent sequentially and 11 per cent on last year, as profits fell 70 per cent quarter-on-quarter to $2.7m (£1.6m) …

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  1. Anonymous Coward
    Happy

    Shame...

    ..because theeir K9 protection is a great product.

  2. Gordon 10
    WTF?

    Profits were impacted

    By too much Bullshit bingo in their public statements.

  3. defiler

    "following declining sales and profits in fiscal first quarter 2012"

    Wow - crystal balls and pessimism really are a shitty mix, eh?

    1. Synonymous Howard

      They are in FY12

      Horrible accountancy crap meaning that the Fiscal Year number is the year it ends in or maybe the same year it starts in depending on what country you are in and if you are a government or private company. Don't get me started about week 53 or period 13.

      1. defiler

        Ugh - that's pretty ugly...

        Thanks for pointing it out though - glad it makes sense to somebody!

  4. Anonymous Coward
    Anonymous Coward

    title

    I heard that he was resigned rather than taking the step himself... I've also heard he's looking into jumping ship to another WANO company.

  5. PeterM42
    WTF?

    Blue Coat Proxy Server

    We had Blue Coat Proxy Servers installed where I used to work. It took MONTHS (or was it years) before anyone could set them up properly.

    1. Synonymous Howard

      You need to employee decent staff then

      Bluecoat SGs are pretty good .. F5s could be viewed as better.

      Quite a bit you can do with Squid though and a lot cheaper.

  6. EJ

    Pricing is killing them

    We just got done with an evaluation of secure web gateways, and Blue Coat was by far the priciest of vendors we looked at. Bigger venders were significantly cheaper. They'll need to address their pricing strategy in order to get back into the game. Even the Feds can't afford to just keep shoveling money to a vendor without paying attention to the other vendors.

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