Radware (Nasdaq: RDWR), the leader in Intelligent Application Switching (IAS), ensuring availability, performance and the security of networked applications, today reported record revenues of $14.0 million for the third quarter of 2003, an increase of 27% compared with sales of $11.0 million for the third quarter of 2002, and an increase of 6% sequentially vs. $13.2 million sales for the second quarter of 2003.
Net profit for the third quarter of 2003 was $1.9 million or $0.10 per diluted share, compared to net loss of $0.4 million or $0.02 loss per share in the third quarter of 2002 and net profit of $1.2 million or net earnings per share of $0.07 in the second quarter of 2003.
During this quarter the company generated cash of $3.7 million, which led to a balance of $133.1 million in cash, short-term and long-term bank deposits and marketable securities.
“During the third quarter we succeeded in executing our business strategy as we expanded into large accounts both domestically and internationally, delivering the eighth quarter of sequential sales growth and improved profitability,” said Roy Zisapel, President and CEO, Radware. “The introduction of LinkProof Branch further strengthens the breadth of our product line and allows us to offer the industry’s most extensive end-to-end solution, ensuring the security, performance and availability of all mission critical applications.”
Company management will host a quarterly investor conference call at 8:45 AM EST on November 3, 2003. The call will focus on financial results for the quarter ended September 30, 2003, and certain other matters related to the Company’s business.
The conference call will be webcast on November 3, 2003 at 8:45 AM (EST in the “listen only” mode via the Internet at:
http://www.radware.com/content/company/investorrelations/default.asp
During the quarter ended September 30, 2003, Radware released the following significant announcements:
- Radware Delivers End-to-End Multi-Homing Connectivity from Headquarters to Branch offices
- Tech Data and Radware Sign Distribution· Radware Extends Bullet Proof Global High Availability with the Release of Web Server Director Version 8.0
- Radware Announces Immediate Protection Against MSBlast / LoveSAN Worm, as Part of its SynApps Application Security Module
- Radware Ensures Optimized Performance and Uptime for C-SPAN.org
- Radware Announces Immediate Protection Against Cisco Router Vulnerability, as part of its SynApps Application Security Module
- Radware and Citrix Join Forces to Ensure Delivery and Security of Enterprise Applications
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), Content Inspection Director (CID), 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
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, the uncertainty related to the outcome and expenses of litigation and other factors which are detailed in the company’s SEC filings.
Editorial Contacts:
Jon Rabinowitz, Radware Ltd.; +1-201-512-9771 ext.233 or jonr@radware.com
Investor Relations: Dennis S. Dobson; 203-255-7902 or IR@radware.com