[Click eStock] "Genian's Forecast for Record Q4 Performance"

On the 18th, Eugene Investment & Securities stated that Genieons' third-quarter performance this year exceeded expectations and predicted strong results for the fourth quarter as well.

Genieons recorded sales of 10.4 billion KRW and operating profit of 2.2 billion KRW in the third quarter of this year, representing increases of 34.9% and 660.8% respectively compared to the same period last year.

Researcher Park Jong-sun of Eugene Investment & Securities explained, "The estimates were sales of 9.1 billion KRW and operating profit of 800 million KRW," adding, "The operating profit significantly exceeded expectations." He continued, "Despite the third quarter being an off-season, stable sales growth of NAC (Network Access Control) and increased sales of EDR (Endpoint Detection & Response) products contributed to the results."

He also emphasized, "Sales of network security products grew by 40.2% compared to the same period last year, driving growth," and added, "Based on strong market dominance domestically, NAC products saw increased sales due to rising demand from large enterprises in the public sector as well as private sectors such as finance and manufacturing."

He analyzed, "Regarding EDR products, Genieons holds a 78% market share in the domestic Nara Marketplace comprehensive shopping mall."

Researcher Park estimated, "In the peak season of the fourth quarter, sales are expected to reach 19.7 billion KRW and operating profit 5 billion KRW," forecasting increases of 17.3% and 32.8% respectively compared to the same period last year.