Radware (Nasdaq: RDWR), the leader in Intelligent Application Switching, ensuring availability, performance and integrity of networked applications, today reported revenues of $11.0 million for the third quarter of 2002, an increase of 36% compared with sales of $8.1 million for the third quarter of 2001.
Net loss for the third quarter of 2002 was $0.4 million or $0.02 per share, compared to net loss of $3.2 million or $0.18 per share in the third quarter of 2001.
The company had a positive operational cash flow for the first three quarters of 2002, and has $125 million in cash, short-term and long-term bank deposits.
“In the third quarter we continued to increase our market share and our revenues worldwide”, said Roy Zisapel, President and CEO of Radware. “As a result we continue to sequentially improve quarter by quarter all the financial parameters of our business.”
During the quarter ended September 30, 2002, Radware released the following significant announcements:
- Radware - the First in the Industry to Mitigate Apache SSL Worm Attacks
- Radware and SecureNet Join Forces to Provide Denial of Service Protection to Corporate and Government Clients
- Radware Wins Two "Best of EnterpriseVision" Awards
- Mission Critical Systems and Radware partner to offer highly available and flexible security solutions
- Leading Korean Telecommunication Companies Implement Radware’s Global IP Application Switching Solution
Company management will host a quarterly investor conference call at 8:45 AM EST on October 29, 2002. The call will focus on financial results for the quarter ended September 30, 2002, and certain other matters related to the Company’s business.
The conference call will be webcast on October 29, 2002 at 8:45 AM (EST in the “listen only” mode via the Internet at:
http://www.radware.com/content/about/investor.asp
About Radware
Radware is dedicated to providing Intelligent Application Switching, guaranteeing the best operation and servicing of IP applications and enterprise traffic across the Internet. Radware aligns application needs with the network infrastructure to seamlessly allocate resources, optimize application operations and extend security, ensuring the integrity of critical business processes. Radware’s solutions address the needs of corporate enterprises, service providers, and e-commerce business through one or more of our award winning products including: Web Server Director (WSD), Cache Server Director (CSD), FireProof, Content Inspection Director (CID), LinkProof, Peer Director, CertainT 100. Our comprehensive suite of products service end-to-end application operations, providing robust and scalable network traffic assurance. Get certain, from click to content, across your network -- with Radware. For more information, please visit us at www.radware.com
This press release contains forward-looking statements. Such statements involve various risks that may cause actual results to differ materially. These risks and uncertainties include, but are not limited to: market demand for the company’s products, successful implementation of the company’s products, economic and competitive factors, international market conditions, technological developments, the ability to finance operations and other factors which are detailed in the company’s SEC filings.