Hot on the heels of the good financial results posted by Iona Technologies and Parthus, Baltimore Technologies has followed suit with a strong set of results for the three months to end June 2000.
Revenues from existing operations more than doubled from a year ago, and including acquisitions, revenues totalled £16 million sterling (€26 million) for the second quarter.
As is the case with its peers, the company continues to sustain losses but expects to become profitable by 2002.
During the quarter Baltimore announced key relationships with financial institutions such as Banco Santander and Visa to provide them with secure channels for conducting everyday financial transactions, including payments and fund transfers.
Demand for the company's esecurity products continued to grow rapidly in all its market segments and new strategic relationships continued to be developed.
The most significant of these is a new strategic relationship with PricewaterhouseCoopers, which involves global business-to-business Internet trust services.
Along with the entire technology sector Baltimore shares declined sharply from their peak earlier this year, leading to a quick exit from the FTSE 100 index.
The share price has been recovering steadily in recent months and the markets liking for the second-quarter results was reflected in a further spurt in the share price.
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