San Diego’s Websense Inc. (Nasdaq: WBSN), which produces software and security systems to defend against cyber attacks, reported record income of $122 million for the fourth quarter, rising 5 percent over last year.
The company net earnings totaled $3.8 million in the fourth quarter, or 10 cents per share, compared to $10.4 million, or 27 cents per share, in the same period of 2011. But after adjusting for one-time expenses, per-share earnings came to 28 cents -- roughly what the company had forecast three weeks ago.
In late afternoon trading, Websense’s stock price plunged nearly 3 percent, which some wire services attributed to investors’ disappointment with the results. But the drop began at around 2:52 p.m. in New York, more than an hour before the financial statements were released. By the close of trading, the price had begun to recover, although it took a slight hit after Websense projected that its first-quarter sales wouldn’t match Wall Street’s expectations.