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Radware Ltd. Announces Second Quarter 2012 Results

Stocks in this article: RDWR

TEL AVIV, Israel, July 26, 2012 /PRNewswire/ --

* Record Quarterly Revenues of $46.8 Million

* Record Quarterly Non-GAAP EPS $0.43

* Record Quarterly Non-GAAP Operating Margin 21%

Radware ® (NASDAQ: RDWR), a global leader of application delivery and application security solutions for virtual and cloud data centers, today reported quarterly revenues of $46.8 million for the second quarter of 2012. This represents an increase of 14% compared with revenues of $41.1 million for the second quarter of 2011.

Net income on a GAAP basis for the second quarter of 2012 was $7.6 million or $0.32 per diluted share, compared with net income of $4.9 million or $0.21 per diluted share for the second quarter of 2011.

Net income on a Non-GAAP basis for the second quarter of 2012 was $10.0 million or $0.43 per diluted share, compared with net income of $7.3 million or $0.32 per diluted share for the second quarter of 2011.

At the end of the second quarter 2012, the company's overall cash position including cash, short-term bank deposits and marketable securities amounted to $250.2 million, representing an increase in the company's cash position of approximately $11.4 million in the second quarter of 2012.

"We are continuing to see steady growth for the business," stated Roy Zisapel president and chief executive officer, Radware. "This is fueled by not only increased traction for our solutions in the Americas but also our ability to secure large deals with carriers and cloud/service providers to help them address burgeoning mobile data, security, and managed services demands. In addition, strong demand for our attack mitigation solution continues as seen both by our growing install base and by our new partnership with CheckPoint."    

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