Sourcefire, Inc.(NASDAQ:FIRE) Gains Momentum, Up 67% YTD

Sourcefire, Inc. (NASDAQ:FIRE) shares climbed 0.88% to $54.05 in the early hour.  On May 21, 2012, the company announced that it was the fastest-growing security company on Forbes' 2012 Fast Tech 25 List, the magazine's annual list of America's 25 Fastest-Growing Tech Companies.

Overall, the company was named the 11th fastest-growing tech company nationally. This year's placement is a testament to Sourcefire's global growth and industry-leading innovation, as the company was recognized in the No. 15 slot in 2011 and was in the No. 18 slot in 2010.Forbes examined over 5,000 publicly traded technology companies, seeking companies with at least $150 million in revenues and a market value of at least $500 million. Firms were also required to show sales growth of at least 10% for each of the past three fiscal years and three-to-five-year estimated earnings-per-share growth rates more than 10%. Companies were then ranked on their three-year average sales growth rates.Sourcefire also recently announced independent test results from NSS Labs demonstrating that its FirePOWER(TM) appliances protected against 99% of all attacks, exceeding the company's previous industry record of 98% set in 2011.The shares of the company have soared over 115% in the last one year. The 52 week trading range for the company is $23.26 - $59.64.

Additionally, in the beginning of this month, the company had reported its first quarter financial results. The company posted first-quarter net income of $0.1 million or break even per share, as compared to $0.5 million or $0.02 per share last year. Adjusted net income for the quarter was $3.4 million or $0.11 per share. Revenues for the first quarter surged 50% to $46.3 million from $30.8 million in the same quarter last year. Analysts expected earnings of $0.08 per share on revenues of $41.64 million for the quarter.Going forward, the company expects second quarter earnings in the range of $0.00 to $0.02 per share, adjusted earnings of $0.12 to $0.14 per share, and revenues of $46.5 million to $48.5 million. Analysts currently expect earnings of $0.13 per share on revenues of $46.46 million for the quarter.