Information Security News mailing list archives
RSA SecurID Breach Cost $66 Million
From: InfoSec News <alerts () infosecnews org>
Date: Fri, 29 Jul 2011 04:06:53 -0500 (CDT)
http://www.informationweek.com/news/security/attacks/231002833 By Mathew J. Schwartz InformationWeek July 28, 2011Between April and June 2011, EMC spent $66 million dealing with the fallout from a March cyber attack against its systems, which resulted in the compromise of information relating to the SecurID two-factor authentication sold by EMC's security division, RSA.
That clean-up figure was disclosed last week during an EMC earnings call, by David Goulden, the company's chief financial officer. It doesn't include post-breach expenses from the first quarter, when EMC began investigating the attack, hardening its systems, and working with customers to prevent their being exploited as a result of the attacks.
In spite of the breach, EMC reported strong second-quarter financial results, earning consolidated revenue of $4.85 billion, which is an increase of 20% compared with the same period one year ago. Meanwhile, second-quarter GAAP net income increased by 28% from the same period last year, to reach $546 million. The company saw large growth in its information infrastructure and virtual infrastructure products and services, including quarterly revenue increases of 19% for its information storage group.
Those results led executives to increase their financial outlook for 2011 and predict consolidated revenue in excess of $19.8 billion, which would be a 16% increase from EMC's 2010 revenues of $17 billion.
[...] ___________________________________________________________ Attend Black Hat USA 2011, hosted at Caesars Palace in Las Vegas, Nevada July 30-Aug 4, offering over 60 training sessions and 9 tracks of Briefings from security industry elite. To sign up visit: http://www.blackhat.com
Current thread:
- RSA SecurID Breach Cost $66 Million InfoSec News (Jul 29)