Radware Ltd., (Nasdaq:RDWR), a leading provider of Internet traffic management solutions enabling continuous access to Web sites IP applications and content, today is pleased to report that second quarter 2000 revenues increased to $8.5 million, an increase of 181% compared with $3.0 million from the same period of 1999, and an increase of 30% compared with sales of $6.5 million from the three months ended March 31, 2000.
Net income for the second quarter of fiscal 2000 was $1,295 thousand or $0.07 per diluted share, compared to net income of $856 thousand or $0.05 per diluted share for the first quarter of fiscal 2000.
"The second quarter results clearly demonstrate the strength of our product line and validates the strategic direction set by the Company," said Roy Zisapel, President and Chief Executive Officer of Radware Ltd. "This is the third quarter in a row in which we have managed to maintain a revenue increase of thirty per cent or more. Our second quarter revenue increase is evidence of our continuous growth in our sales and marketing efforts globally and, of our technological strength."
Mr. Zisapel added, "We are particularly pleased with the signing of our Reseller Agreement with Compaq Computer. This gives us the breadth and strength of Compaq's global recognition and provides our ITM products with a tremendous platform to operate in networks throughout the world."
"We are extremely excited about the future within the traffic management marketplace," said Meir Moshe, Chief Financial Officer of Radware Ltd. "During the second quarter of fiscal 2000, we have increased our staff by over 25 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 June 30, 2000, Radware released the following significant announcements:
Easynet France and Radware Join Forces To deliver High Availability Internet Service Capabilities.
Radware Provides Full Service Internet Solutions 24X7 to Millenium Solutions.
Radware Chosen To Load Balance FireWalls in eWEEK'S Openhack Project.
Radware Signs Reseller Agreement with Compaq for Professional Services Offerings.
Radware Announces Partnership with Connectus.
Radware Joins Cable and Wireless' Enhanced Solutions Provider Program.
Radware and IS (The Internet Solution of South Africa) Join Forces To Deliver Mission Critical Infrastructure For High Ability Hosting Solutions.
Radware and Perfecto Technologies Join Forces in Application Security Alliance
Radware Opens Fourth European Office in the UK.
Radware Wins Frost And Sullivan Award for Product marketing Strategy.
Radware Opens third European Office in Stockholm, Sweden.
Radware Expands Presence in Europe with New Office in Paris, France.
Radware Helps Deliver Victoria's Secret Internet Experience to Million of Victoriasecret.com Visitors during Cannes Fashion Show Webcast.
Radware and SiteSmith Partner to Deliver Outsourced Internet Traffic Management Solutions.
Radware Opens New Office In Germany.
About Radware
Radware Ltd. develops, manufactures and markets products that manage and direct Internet traffic among network resources to enable continuous access to Web sites and other services, applications and content based on 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 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.