Rainbow Reports $15 Million in Orders

Dow Jones

Rainbow Technologies Inc., which serves the growing Internet security market, said Monday that it has received orders valued at about $15 million in the first quarter for its CryptoSwift electronic-commerce accelerator.

Its stock jumped 24% on the news, gaining $7.25 a share Monday to close at $37.38 in Nasdaq trading.

The Irvine maker of encryption technology and software protection products said the orders are from original equipment manufacturers, and the products are scheduled to ship this year.