Radware Ltd., (Nasdaq:RDWR), a leading provider of Intelligent Traffic Management (ITM) solutions that bring certainty to dynamic networks, ensuring optimal, continuous, personalized and secure service, today is pleased to report that third quarter 2000 revenues increased to $11.1 million, an increase of 207% compared with $3.6 million from the same period of 1999, and an increase of 30% compared with sales of $8.5 million from the three months ended June 30, 2000.
Radware had reached operating profit for the first time. Operating profit for the third quarter of 2000 was $116 thousands, compared to operating loss of $597 thousand in the second quarter of 2000.
Net income for the third quarter of fiscal 2000 was $1,850 thousand or $0.10 per diluted share, compared to net loss of $60 thousand or $0.01 per diluted share in the same period of 1999, and to net income of $1,295 thousand or $0.07 per diluted share for the second quarter of fiscal 2000.
"The third quarter results clearly demonstrate the strength of our innovation and defined vision for the future. We expanded the scope of our intelligent traffic management solutions with the announcement of our Application Switch platform and the SynApps Architecture. Both of these clearly strengthen and validate our technological leadership in the traffic management field," said Roy Zisapel, President and Chief Executive Officer of Radware Ltd.
"This is the fourth consecutive quarter that we have maintained a revenue increase of 30 percent or more. We are pleased with our results this quarter and eagerly look forward to continuing to grow our business throughout the world," said Meir Moshe, Chief Financial Officer of Radware Ltd.
During the quarter ended September 30, 2000, Radware released the following significant announcements:
- InternetWeek And Network Computing Editors Name Radware's SynApps Architecture A Finalist In The Best-Of-Show Award Program At NetWorld+Interop 2000 Atlanta.
- Radware Expands The Scope of intelligent Traffic Management With SynAps Architecture.
- Radware Unvels New Corporate Strategy.
- Radware Opens New Office In Australia.
- Westcon Asia Ltd. to Distribute Radware Products In China.
- Cox And Gist Rely On Radware's Internet Traffic Management Solutions To Improve Customer Service.
- Comverse Network Systems And Radware Sign OEM Agreement.
- SK Telecom Chooses Radware To Provide Cutting Edge Internet Traffic Management Solutions.
- Christopher R. McCleary Joins Radware As Director.
- Radware Introduces The Industry's First ITM Application Switch.
- Radware Helps Internet Service Provider Millennium Systems Give Customers Full Service Internet Solutions 24X7.
- Radware Provides The Scalable Internet Traffic Management Solutions That Growing E-Businesses Need.
- Radware- The Market Leader in Firewall High Availability- Chosen To Load Balance Firewalls In eWeek's Openhack Project
Radware's suite of Intelligent Traffic Management (ITM) products is designed to optimize the end user experience by eliminating network uncertainty and downtime.
About Radware
Radware's product line combines its latest application switching technology and architecture with the company's industry proven traffic management software to help users keep their sites available 24 hours a day. Radware offers a broad range of ITM solutions to service providers, e-commerce businesses and corporate enterprises that require uninterrupted availability and optimal performance of IP-based applications. Users receive optimal, continuous, secure and personal service with the use of Radware's award-winning ITM solutions: Web Server Director, Cache Server Director, FireProof and LinkProof. Radware's Application Switches bring certainty to dynamic networks with products that guarantee the best service from click to content. Get certain 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 and other factors which are detailed in the company's SEC filings.