TEL AVIV (
(RDWR - Get Report)
beat Wall Street's estimates in its third-quarter results, boosted by record revenue, and took a swipe at rival gearmakers.
Radware, which competes with
(CSCO - Get Report)
(FFIV - Get Report)
(CTXS - Get Report)
, reported record sales of $29.2 million, up from $23.5 million in the same period last year, and just above the $29.2 million expected by analysts.
Excluding items, the firm earned 12 cents a share on net income of $2.3 million, compared to a loss of 22 cents a share and a net loss of $4.3 million in the same period last year. Analysts surveyed by Thomson Reuters had predicted earnings of 8 cents a share.
"We are pleased to report yet another record quarter of results along with a significant increase in profitability," said Roy Zisapel, the Radware CEO, in a statement. "For several quarters now we have been able to sequentially increase market share."
The company is also capitalizing on its
switch business earlier this year, according to Zisapel.
On a GAAP basis, Radware earned a penny a share on net income of $200,000, compared with a loss of 44 cents a share and a net loss of $8.5 million in the same period last year.
Radware's numbers, which were released before market open, were not completely out of the blue. The application delivery specialist recently
its third-quarter estimates, citing sales growth and tight cost controls.
-- Reported by James Rogers in New York