VirtualArmour International Inc. announced earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company's revenue increased year-over-year by 21%.

Total revenue for 2016 increased by 21% to $8,897,092 compared to $7,366,309 in 2015. The increase in revenue was directly related to a significant increase in the number of customers being served. The company recorded a net loss of $2,298,828 or $0.04 per share for the year ended December 31, 2016 as compared to a net loss of $3,403,391 or $0.09 per share for the year ended December 31, 2015. Adjusted loss for the year was $912,507 against $7,183 a year ago.

The company expects positive outlook for 2017, as there continues to be growth within the MSP (Managed Services Provider) and cyber security sector that is accelerating adoption of the company's service offerings. The company expects to see continued margin growth from a ramp up in Managed Services sales and expansions into new markets led by a growing sales, marketing, and service organization that is 100% focused on the client experience.