Net profit for the third quarter of 2004 was $3.6 million, an increase of 96% compared with net profit of $1.9 million in the third quarter of 2003 and a sequential increase of 19% vs. net profit of $3.0 million in the second quarter of 2004.
Diluted net earnings per share for the third quarter of 2004 were $0.19, compared to $0.10 in the third quarter of 2003 and $0.16 in the second quarter of 2004.
The Company continued to maintain a positive operational cash flow, and in the third quarter of 2004 generated cash in the amount of $4.0 million, leading it to a balance of $149.2 million in cash, short-term and long-term bank deposits and marketable securities.
"We are pleased with our strong results and accelerated growth," said Roy Zisapel, President and CEO, Radware. " Our strong earnings attest to the momentum we established with carriers and enterprises worldwide."
During the quarter ended September 30, 2004, Radware released the following significant announcements:
- St.George Bank Deploys Radware for Guaranteed Application Availability, Performance and Security
- Radware Raises Guidance For Third Quarter Results
- Radware Highlights Five Year Anniversary of NASDAQ Trading by Opening the NASDAQ Market
- F5 Networks and Radware Settle Cookie Persistence Patent Lawsuit
- Windows IT Pro Names Radware WSD Reader's Choice Award Winner
- Radware Partners with Oracle to Deliver Optimized and Secure Enterprise Applications
- Radware Introduces its Next Generation SynApps Architecture
- Ace Hardware Eliminates Downtime with Radware Application Infrastructure Solution
- Radware Files Patent Infringement Lawsuit Against F5 Networks
Company management will host a quarterly investor conference call at 8:45 AM (EDT) on October 25, 2004. The call will focus on financial results for the quarter ended September 30, 2004, and certain other matters related to the Company's business.
The conference call will be webcast on October 25, 2004 at 8:45 AM (EDT) in the "listen only" mode via the Internet at:
http://www.radware.com/content/company/investorrelations/default.asp
About Radware
Radware (NASDAQ:RDWR) is the Global Leader in Intelligent Application Switching, enabling the complete security, maximum performance and full availability of all mission critical networked applications while dramatically cutting operating and scaling costs.
Radware's integrated Application Security, Application Infrastructure and End-to-End Connectivity solutions are deployed by over 2,500 enterprises and carriers worldwide. Radware offers the broadest product line in the industry, meeting application needs at every critical point across the network, including Web and Application Servers, Firewalls, VPNs, ISP links, Anti-Virus Gateways and Cache.
Learn more on how Radware Intelligent Application Switching Solutions can enable the security, performance and availability of mission critical applications at www.radware.com.
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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.