Radware (NASDAQ: RDWR) a leading provider of intelligent integrated solutions for ensuring the fast, reliable and secure delivery of networked and Web-enabled applications over IP, today announced that its projected revenues for first quarter of 2006 will be approximately 20 million dollars, compared to previously projected revenues of 22.2 to 22.6 million dollars. On the other hand, deferred revenues at the end of this quarter are expected to have increased by over $1 million compared to December 31, 2005.
Based on the above revised guidance, earnings per share are anticipated to be approximately 7 cents, compared to previously projected earnings per share of approximately 13 cents (both excluding stock based compensation).
"The change in guidance is a result of lower than expected sales in the U.S. during the first quarter," said Roy Zisapel, President and CEO of Radware. "As we announced in January 2006, we replaced our top management in the U.S. this quarter, and started implementing a new sales plan to grow U.S sales beyond the current rate. In our quarterly conference call we will discuss in detail our final first quarter results as well as our plan for the U.S.," said Mr. Zisapel.
Radware management will host a Conference Call on April 28, 2006 at 8:30 AM EDT, to discuss its first quarter results. Dial-in and webcast information will be provided prior to the call.
About Radware
Radware (NASDAQ:RDWR) is the global leader in integrated application delivery solutions, assuring the full availability, maximum performance and complete security of all business critical networked applications while dramatically cutting operating and scaling costs. Over 3,000 enterprises and carriers worldwide use Radware application-smart switches to drive business productivity and improve profitability by adding critical application intelligence to their IP infrastructure, making networks more responsive to specific business processes. Radware's APSolute product family provides the most complete set of application front-end, remote access and security capabilities for application-smart networking to ensure faster, more reliable and secure business transactions. Learn more on how Radware application delivery solutions can enable you to get the most of your investments in IT infrastructure and people.www.radware.com.
This press release may contain forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, general business conditions in the Application Switching industry, changes in demand for Application Switching products, the timing and amount or cancellation of orders and other risks detailed from time to time in Radware's filings with the Securities and Exchange Commission, including Radware's Form 20-F.