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Shift In Revenue Recognition From Q3 To Q4 Decreases RADCOM's Q3 Revenues To $3.4M

TEL-AVIV, Israel, October 24, 2011 /PRNewswire/ --

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

Discussion of Financial Results

Third Quarter of   2011: Revenues for the quarter ended September 30, 2011 totaled $3.4 million, a 28% decrease compared to $4.8 million for the third quarter of 2010. The decrease resulted primarily from the delay in the recognition of revenues from two projects that management had expected to be completed during the quarter. Both of these projects are expected to be completed and recognized during the fourth quarter.

As a result of the lower-than-expected revenues, the Company recorded a net loss for the quarter of $(2.2) million, or $(0.34) per ordinary share (basic and diluted), compared to net income of $361,000, or $0.07 per ordinary share (basic) and $0.06 per ordinary share (diluted), for the third 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 loss for the quarter was $(2.0) million, or $(0.31) per ordinary share (basic and diluted), compared to net income of $387,000, or $0.07 per ordinary share (basic and diluted) for the third quarter of 2010.

First 9 Months of 2011: Revenues for the first nine months of 2011 were $15.0 million, an 8% increase compared to $13.8 million for the first nine months of 2010.  Net loss for the period was $(2.0) million, or $(0.31) per ordinary share (basic and diluted), compared to net income of $0.5 million, or $0.10 per ordinary share (basic) and $0.09 per ordinary share (diluted), for the first nine months of 2010. The net loss derived primarily from an increase in the Company's investment in sales, marketing and R&D.

Excluding non-cash stock-based compensation expenses and changes in the fair value of warrants for all periods, the Company's non-GAAP net loss for the first nine months of 2011 was $(1.3) million, or $(0.21) per ordinary share (basic and diluted), compared to net income of $1.2  million, or $0.23 per ordinary share (basic)  and $0.21 per ordinary share (diluted) for the first nine months of 2010.

Comments of Management

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