Finjan Holdings Inc (FNJN)

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We are lowering our 2016 revenue forecast to reflect a shift of the revenues from the Blue Coat win to mid-2017. We are assuming over the course of the year other companies will license resulting in total revenues of $13 million. This comprised of $9 million in new licenses, the $2 million owed by Websense to be paid in Q1 and $2 million projected for the new cybersecurity consulting business.

We anticipate slightly higher spending on SG&A, half of which will be to support the Proofpoint and Sophos trials. With these revenues and expenses we expect a reported loss per share of $0.37 per share or $8.3 million.