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

(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)
 
    GAAP net
    income (loss)      $(2,169)        $361       $(1,968)           $492
    Stock-based
    compensation
    (1)                    195           34           620             142
    Change in fair
    value of
    warrants                 -           (8)            -             524
    Non-GAAP net
    income (loss)      $(1,974)        $387       $(1,348)         $1,158
    Non-GAAP
    earnings
    (loss) per
    share
    (diluted)           $(0.31)       $0.07        $(0.21)          $0.21
 
    Number of
    shares used in
    computing
    Non-GAAP
    earnings
    (loss) per
    share
    (diluted)        6,373,675   5,837,570      6,357,003       5,594,547
 
    (1)
    Stock-based
    compensation:
    Cost of sales            6           2             23               6
    Research and
    development             70           6            177              15
    Selling and
    marketing               52           4            197              39
    General and  
    administrative          67          22            223              82
                           195          34            620             142
                                  RADCOM Ltd.
 
                          Consolidated Balance Sheets
 
                            (1000's of U.S. dollars)
                                                  As of            As of
                                              September 30,     December 31,
 
                                              2011              2010
                                               (unaudited)
    Current Assets
    Cash and cash equivalents                         3,160            5,744
    Trade receivables, net                            6,059            6,851
    Inventories                                       6,529            3,949
    Other receivables                                 2,895            1,708
    Total Current Assets                             18,643           18,252
    Severance pay fund                                2,719            2,796
    Property and equipment, net                         313              338
    Total Assets                                     21,675           21,386
 
    Liabilities and Shareholders' Equity
    Current Liabilities
    Trade payables                                    3,502            2,759
    Deferred revenue                                    652              451
    Other payables and accrued expenses               3,942            3,898
    Total Current Liabilities                         8,096            7,108
    Long-Term Liabilities
    Deferred revenue                                    165              221
    Accrued severance pay                             3,127            3,154
    Total Long-Term Liabilities                       3,292            3,375
 
    Total Liabilities                                11,388           10,483
 
    Shareholders' Equity
    Share capital                                       247              234
    Additional paid-in capital                       60,519           59,180
    Accumulated deficit                             (50,479)         (48,511)
    Total Shareholders' Equity                       10,287           10,903
 
    Total Liabilities and Shareholders'
    Equity                                           21,675           21,386

Contact: Gilad Yehudai CFO +(972)77-774-5060 gilady@radcom.com  

SOURCE RADCOM Ltd

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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