Radware Boosts 3Q Earnings, Sales Estimates

NEW YORK (AP) — Radware Ltd. hiked its third-quarter earnings and revenue forecast Tuesday, citing sales growth and cost-cutting moves.

The Israeli maker of network management software projected adjusted earnings of 9 cents to 10 cents per share, up from a previous forecast of 5 cents to 6 cents per share.

The company expects revenue of $28.8 million to $29 million, compared with a previous estimate of $27.3 million to $27.7 million.

On average, analysts project earnings of 6 cents per share on sales of $27.8 million, according to a Thomson Reuters survey.

"The growth in sales, with our high gross margins and cost control efforts has ... resulted in a significant increase in our profitability," CEO Roy Zisapel said in a statement.

The company's stock rose 37 cents, or 3.3 percent, to $11.44 in afternoon trading.