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TheStreet Open House

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

Stocks in this article: RDCM

Risks Regarding Forward-Looking Statements

Certain statements made herein that use words such as "estimate," "project," "intend," "expect," "'believe", "may", "might", "predict", "potential", "anticipate", "plan" or similar expressions are intended to identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties that could cause the actual results, performance or achievements of the Company to be materially different from those that may be expressed or implied by such statements, including, among others, changes in general economic and business conditions and specifically, decline in the demand for the Company's products, inability to timely develop and introduce new technologies, products and applications, and loss of market share and pressure on prices resulting from competition. For additional information regarding these and other risks and uncertainties associated with the Company's business, reference is made to the Company's reports filed from time to time with the United States Securities and Exchange Commission. The Company does not undertake to revise or update any forward-looking statements for any reason.

 
                  Consolidated Statements of Operations
        (1000's of U.S. dollars, except share and per share data)
                     Three months ended              Nine months ended
                        September 30,                   September 30,
                       2011           2010         2011               2010
                   (unaudited)     (unaudited)  (unaudited)       (unaudited)
    Sales             $ 3,449        $ 4,812     $ 14,983           $ 13,810
    Cost of sales       1,366          1,573        4,570              4,585
    Gross profit        2,083          3,239       10,413              9,225
    Research and 
    development, gross  1,457          1,114        4,332              3,199
    Less - 
    royalty-bearing 
    participation         257            380        1,006              1,141
    Research and 
    development, net    1,200            734        3,326              2,058
    Sales and marketing 2,346          1,827        7,246              4,923
    General and 
    administrative (1)    520            358        1,721                991
    Total operating 
    expenses            4,066          2,919       12,293              7,972
    Operating income 
    (loss)             (1,983)           320      (1,880)              1,253
    Financing income 
    (expenses), net      (186)            41         (88)               (761)
    Net income (loss)  (2,169)           361      (1,968)                492
    Basic net income 
    (loss) per ordinary
    share             $ (0.34)        $ 0.07     $ (0.31)             $ 0.10
    Diluted net income 
    (loss) per ordinary 
    share             $ (0.34)        $ 0.06     $ (0.31)             $ 0.09
    Weighted average 
    number of
    ordinary shares 
    used in
    computing basic 
    net income
    (loss) per 
    ordinary share  6,373,675      5,218,847   6,357,003           5,145,651
    Weighted average 
    number of
    ordinary shares 
    used in
    computing diluted 
    net income
    (loss) per 
    ordinary share  6,373,675      5,837,570   6,357,003           5,594,547

(1) Includes a decrease of $120,000 in allowance for doubtful accounts for the three month period ended September 30, 2010, and a decrease of $326,000 in allowance for doubtful accounts for the nine month period ended September 30, 2010.

RADCOM Ltd.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION

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