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Radcom's Momentum Accelerating In Q2 2011: Revenues Reach $5.9m, Bookings Reach Highest-Ever Level For A Second Quarter

TEL-AVIV, Israel, August 1, 2011 /PRNewswire/ --

  • Visibility for Steeper Growth Path Beginning in Early 2012 -

RADCOM Ltd. (RADCOM) (NASDAQ: RDCM) today announced its financial results for the second quarter and first half of 2011.

    In $000s        Q2 2011 Q2 2010  Change  H1 2011  H1 2010  Change
    Revenues         $5,927  $4,560     30%  $11,534   $8,998     28%
    Gross margin         72%     67%              72%      67%
    Net income          $78     $80     (3%)    $201     $131     53%

Discussion of Financial Results

Second Quarter of 2011: Revenues for the quarter ended June 30, 2011 totaled $5.9 million, their highest level for a fiscal quarter since 2006 and a 30% increase compared to $4.6 million for the second quarter of 2010. Gross margin for the period was 72%, up strongly from 67% during the second quarter of 2010.

Net income for the quarter was $78,000, or $0.01 per ordinary share (basic and diluted), a 3% decrease compared to $80,000, or $0.02 per ordinary share (basic) and $0.01 per ordinary share (diluted), for the second quarter of 2010.

Excluding non-cash stock-based compensation expenses and changes in the fair value of warrants for all periods, the Company's non-GAAP net income for the quarter reached $315,000, or $0.05 per ordinary share (basic and diluted), a 35% decrease compared to $487,000, or $0.10 per ordinary share (basic) and $0.09 per ordinary share (diluted) for the second quarter of 2010.

First Half of 2011: Revenues for the first six months of 2011 were $11.5 million, a 28% increase compared to $9.0 million for the first six months of 2010. Gross profit for the period was 72%, up strongly from 67% during the first six months of 2010.

Net income for the period was $201,000, or $0.03 per ordinary share (basic and diluted), a 53% increase compared to $131,000, or $0.03 per ordinary share (basic) and $0.02 per ordinary share (diluted), for the first six months of 2010.

Excluding non-cash stock-based compensation expenses and changes in the fair value of warrants for all periods, the Company's non-GAAP net income for the first six months of 2011 reached $626,000, or $0.10 per ordinary share (basic) and $0.09 per ordinary share (diluted), a 19% decrease compared to $771,000, or $0.15 per ordinary share (basic) and $0.14 per ordinary share (diluted) for the first six months of 2010.

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