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RADVISION Reports Fourth Quarter 2011 Results In Line With Improved Guidelines

RADVISION® (Nasdaq: RVSN), a leading technology and end-to-end solution provider for unified visual communications, reported today that revenues for the fourth quarter of 2011 were $21.8 million, in line with the Company’s revised forecast. This compares with $26.6 million in the fourth quarter of 2010.

For the fourth quarter of 2011, the operating loss was $4.4 million on a GAAP basis and $3.1 million on a non-GAAP basis. For the fourth quarter of 2010, the Company had operating income of $1.5 million on a GAAP basis and $3.0 million on a non-GAAP basis.

The net loss for the fourth quarter of 2011 was $4.5 million, or $0.24 per diluted share, on a GAAP basis, and $3.1 million, or $0.17 per diluted share, on a non-GAAP basis. This compares with net income of $1.4 million, or $0.07 per diluted share, on a GAAP basis, and $2.9 million, or $0.16 per diluted share, on non-GAAP basis, in the fourth quarter of 2010.

The non-GAAP amounts in the fourth quarter of 2011 exclude $0.4 million of amortization of purchased intangibles and $0.1 million of net restructuring expenses, both related to the Aethra acquisition in February 2010. They also exclude $0.8 million for the effects of stock-based compensation expense in accordance with ASC 718, and a loss of $0.04 million due to the other than temporary impairment of certain Auction Rate Securities. The total amount excluded for non-GAAP purposes was $1.3 million, equivalent to $0.07 per diluted share.

The non-GAAP amounts in the fourth quarter of 2010 exclude $0.5 million of expense for amortization of purchased intangibles and $0.3 million of restructuring expenses related to the Aethra acquisition, $0.8 million for the effects of stock-based compensation expense, and a loss of $0.03 million due to the other than temporary impairment of certain Auction Rate Securities. The total amount excluded for non-GAAP purposes was $1.6 million, equivalent to $0.09 per diluted share.

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