RADCOM Announces Financial Results For Second Quarter And First Six Months Of 2012

(1000's of U.S. dollars, except share and per share data)

                         Three Months Ended           Six Months Ended
                              June 30,                    June 30,
                        2012           2011         2012           2011
                     (unaudited)    (unaudited)  (unaudited)    (unaudited)
 
    GAAP net (loss)
    income             $ (1,811)           $ 78    $ (2,636)          $ 201
    Stock-based
    compensation (1)          96            237          271            425
    Non-GAAP net
    (loss) income      $ (1,715)          $ 315    $ (2,365)          $ 626
    Non-GAAP (loss)
    earnings per
    share (diluted)     $ (0.27)         $ 0.05     $ (0.37)         $ 0.09
 
    Number of shares
    used in
    computing
    Non-GAAP (loss)
    earnings per
    share (diluted)    6,444,221      6,799,894    6,434,617      6,843,227
 
    (1) Stock-based
    compensation:
    Cost of sales              3              9            9             17
    Research and
    development               30             57           98            107
    Sales and
    marketing                 34             79           92            145
    General and
    administrative            29             92           72            156
                              96            237          271            425

                                 RADCOM Ltd.
 
                         Consolidated Balance Sheets
 
                           (1000's of U.S. dollars)
                                                    As of            As of
                                                 June 30,     December 31,
                                                     2012             2011
                                                (unaudited)
    Current Assets
    Cash and cash equivalents                       1,408            2,901
    Restricted cash                                   724                -
    Trade receivables, net                          4,888            5,389
    Inventories                                     5,957            6,590
    Other receivables                               3,418            3,490
    Total Current Assets                           16,395           18,370
    Severance pay fund                              2,765            2,674
    Property and equipment, net                       272              301
    Total Assets                                   19,432           21,345
 
    Liabilities and Shareholders' Equity
    Current Liabilities
    Trade payables                                  1,772            2,703
    Deferred revenue                                  877              623
    Other payables and accrued expenses             5,494            4,374
    Total Current Liabilities                       8,143            7,700
    Long-Term Liabilities
    Deferred revenue                                  146              161
    Accrued severance pay                           3,193            3,092
    Total Long-Term Liabilities                     3,339            3,253
 
    Total Liabilities                              11,482           10,953
 
    Shareholders' Equity
    Share capital                                     251              250
    Additional paid-in capital                     60,750           60,557
    Accumulated deficit                          (53,051)         (50,415)
    Total Shareholders' Equity                      7,950           10,392
 
    Total Liabilities and Shareholders'
    Equity                                         19,432           21,345

Investor inquiries: Brett Maas Hayden IR [e-mail] [phone] or James Carbonara, Regional Vice President Hayden IR [phone] Email: [e-mail]

SOURCE RADCOM Ltd

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