Radware Ltd., (Nasdaq: RDWR - news), a leading provider of Internet traffic management solutions enabling continuous access to Web sites IP applications and content, today is pleased to report that first quarter 2000 revenues increased to $6.5 million, an increase of 160% compared with $ 2.5 million from the same period of 1999, and an increase of 31% compared with sales of $5.0 million from the three months ended December 31, 1999.
Net income for the first quarter of fiscal 2000 was $856 thousand or $0.05 per diluted share, compared to net loss of $160 thousand or ($0.02) per diluted share for the first quarter of fiscal 1999.
"We are very pleased with our first quarter results and strong performance in sales and revenue growth," said Roy Zisapel, President and Chief Executive Officer of Radware Ltd. "The increases in revenues during the quarter reflects the growing demand for Internet traffic management solutions by carriers, service providers and corporate customers. To meet this outstanding growing demand, we continue to extend our sales and marketing efforts globally and at the same time increase our professional staff."
Mr. Zisapel added, "Moving forward, we intend to augment our core competency of developing products designed to provide Internet traffic management solutions by offering our customers more diversified product lines. One of our primary goals in the future is to strengthen our strategic partnerships and original equipment manufacturer relationships with vendors of networking and Internet infrastructure solutions, in an effort to maximize market penetration worldwide and create greater value for our shareholders."
"We are extremely excited about the remarkable opportunity with which we are presented within the traffic management marketplace," said Meir Moshe, Chief Financial Officer of Radware Ltd. "During the first three months of fiscal 2000, we have increased our staff by over 30 percent. We believe that with the additional, highly-qualified professional staff who have joined us during the quarter, together with our continuous efforts to expand our Research & Development activities and our sales and marketing initiatives, we are poised to significantly grow our business and successfully meet increasing market demand."
During the quarter ended March 31, 2000, Radware released the following significant announcements:
Novell and Radware Enhance Caching Capabilities.
Radware Provides Internet Traffic Management Solutions to CT Motion.
NetGuard and Radware Offer Bundled Internet Security and Traffic Management Solutions.
Radware and NSI Software Team-Up to Provide Twenty-four Hours A Day, Seven Days Per Week Web Server Uptime.
Radware and NetGuard Increase Network Security in Small and Medium Sized Business Solutions.
Radware Announces Robust New Features for its Web Server Director Product Line.
Radware and NetVision Join Forces to Deliver One-Stop-Shop for High Availability Solutions.
SilverStream Software Uses Radware's ITM Products to Enhance Corporate Web Site.
UUNET Deutschland GmbH Relies on Radware's ITN solutions to Manage Peak Demand in On-Line Access.
Internet Week Names Radware's WSD-PRO+ "Scorecard Winner and Best Of Breed."
InnerHost Inc. Uses Radware Traffic Management Solutions.
Algorithmic Research and Radware Team To Provide Security and Reliability for On-Line Business Services.
Network Associates and Radware Deliver Increased Security for Corporate E-Business.
About Radware
Radware develops, manufacturers and markets products that manage and direct Internet traffic among network resources to enable continuous access to Web sites and services, applications and content based on the Internet protocol. Radware offers a broad range of Internet traffic management solutions to service providers, e-commerce businesses and corporate enterprises that require uninterrupted availability and optimal performance of IP-based applications that are critical to their business. Radware's Internet traffic management solutions enable its customers to manage their network infrastructure to bypass system failures and to scale their network infrastructure to accommodate increasing IP traffic. Radware's products improve the productivity of network infrastructure by distributing traffic within a network to optimize the use of available network resources. Radware's products can be deployed either as independent solutions to address specific application needs at a particular location within a network or as an end-to-end integrated solution to manage traffic throughout a network.
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 Internet traffic management industry, changes in demand for Internet traffic management 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 F-1.