Rubrik: World-wide News/Products & News

Entrust: Second Quarter Financial Results and Sets Breakeven forYear-end 2003

Net Loss of 21.9 Million Dollar, or 0.35 Dollar Per Share

(03.08.03) - Entrust, Inc. (Nasdaq: ENTU), a specialist in securing digital identities and information, today announced financial results for its fiscal quarter ended June 30, 2003. Entrust recorded a second quarter, 2003 net loss of 21.9 million Dollar, or 0.35 Dollar per share, compared to a Q1, 2003 net loss of 5.0 million, Dollar or 0.08 Dollar per share, and a Q2, 2002 net loss of 4.8 million Dollar, or 0.07 Dollar per share. The loss per share for the second quarter includes cash and non-cash-restructuring charges and charges for the impairment to intangible assets of approximately 15.3 million Dollar, or 0.24 Dollar per share.

Revenues were 22.4 million Dollar in the second quarter, compared to 21.7 million Dollar in Q1, 2003 and 26.5 million Dollar in Q2, 2002. Software revenue in Q2, 2003 was 8.4 million Dollar, an increase of 16 percent from the 7.2 million Dollar recorded in Q1, 2003.

For the third quarter of 2003, Entrust is currently targeting a GAAP net loss per share in a range of 0.14 Dollar to 0.11 Dollar on revenues in a range of 21.5 million Dollar to 23.5 million Dollar.

The Company has revised its estimated restructuring plan costs for the year to a total of approximately 18 million Dollar, which includes non-cash affecting charges of approximately 5 million Dollar. This represents a reduction of the cash impact of the restructuring plans by approximately 4 million Dollar from previous guidance. The Company anticipates that the remaining restructuring charges will be recorded by the end of Q3, 2003.(ma)

Entrust GmbH

Kontakt: Hans Ydema

Munich Airport Center, Terminalstraße Mitte 18, 85356 München

Tel. (089) 97582-501, Fax. (089) 975 82-508

E-Mail: hans.ydema@entrust.com

Web: www.entrust.com