IT security firm Network Associates has posted a second-quarter profit, crediting US spending for the result. But the firm added that European sales had been stagnant.
The group saw a loss in the corresponding quarters of last year and is also the subject of a US Security and Exchange Commission (SEC) investigation into dubious accounting.
Network Associates gained $21.2m in the second quarter, compared with a loss of $37.2m a year earlier. Consolidated net revenue was $233m, up from $192.6m a year ago.
George Samenuk, chief executive of Network Associates, called the results "a strong performance". He confirmed that the company was hoping to re-absorb its majority-owned, antivirus business McAfee.com.
Network Associates has been tipped to expand into Europe. With $1.1bn in cash it could look to acquire firms to do so, analysts said.
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