Radware (Nasdaq: RDWR), the leading provider of Intelligent Application Switching (IAS) ensuring control, performance and the integrity of networked applications across the enterprise, today reported revenues of $10.1 million for the first quarter of 2002, exceeding guidance previously provided by management and representing a 7.4% sequential growth over the fourth quarter of 2002.
Net loss for the first quarter of 2002 was $1,396 thousand or $0.08 per share, compared to net loss of $8.3 million or $0.50 per share in the fourth quarter of 2001.
The company had a positive operational cash flow for the first quarter of 2002, and has $125 million in cash and short-term bank deposits.
"We are very pleased with our continuous growth in revenues and market share despite the challenging environment," said Roy Zisapel, President and CEO of Radware. "This is a result of our pioneering technology and continued focus on providing Application Switching solutions that offer customers the guaranteed availability, optimized performance and enhanced security needed for their mission critical applications."
"The release of new products such as our award winning FireProof Security Application Switch and DoS Shield enabled us to increase market share and deliver revenue and earnings growth," said Mr. Meir Moshe, Company's CFO.
During the quarter ended March 31, 2002, Radware released the following significant announcements:
- Radware, Authentor Deliver Improved Network Availability, Security Across the Enterprise
- Radware's FireProof named a 2002 Finalist by Network Computing for Well-Connected Award
- Radware Opens Office in Japan
- Radware Teams with Surfcontrol to Deliver Scalable and High Performance Internet Filtering
- Radware Announces Advanced Health Monitoring Module - a New SynApps Architecture Component
- Radware Unveils FireProof Security Application Switch - the Industry's First Comprehensive Security Service Center
- Aladdin And Radware Partner To Offer First-Ever High-Speed Internet Content Inspection Solution For High-Capacity Networks
- Radware Announces DoS Shield - a New SynApps Architecture Module
- Radware's product line geared toward HP's Blade Servers
- Radware Provides Traffic Management Solutions to Leading German Service Provider
- Radware and Incognito Partnership Delivers High Availability and Bullet-proof DNS Server Infrastructures
- Westcon to Distribute Radware's Internet Traffic Management (ITM) Products
- Radware Opens Singapore Office
Company management will host a quarterly investor conference call at 8:45 AM EST on April 29 2002. The call will focus on financial results for the quarter ended March 31, 2002, and certain other matters related to the Company's business.
The conference call will take place on April 29, 2002 at 8:45 AM (EST).
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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, 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.
Interim condensed financial statements for the three months ended March 31, 2002