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RADCOM Announces Financial Results For Third Quarter And First Nine Months Of 2012

Stocks in this article: RDCM

TEL AVIV, Israel, October 23, 2012 /PRNewswire/ --

RADCOM Ltd. (RDCM), a leading service assurance provider, today announced its financial results for the third quarter and first nine months of 2012.

Discussion of Financial Results

Third Quarter of   2012: Revenues for the quarter ended September 30, 2012 totaled $3.0 million, a 12% decrease compared to $3.4 million for the third quarter of 2011, the result of multiple projects which have been booked, but not fully completed and are expected to be completed and recognized in the coming quarters. Gross margin for the quarter was 57%, compared to 60% for the third quarter of 2011.

Net loss for the quarter ended September 30, 2012 was $(1.8) million or $(0.28) per ordinary share (basic and diluted), compared to a loss of ( $2.2M), or $(0.34) per ordinary share (basic and diluted) for the third quarter of 2011. The decrease in the loss is mainly a result of cost cutting measures taken by the company.

Excluding non-cash stock-based compensation expenses for all periods, the Company's non-GAAP net loss for the quarter ended September 30, 2012 was $(1.7) million, or $(0.26) per ordinary share (basic and diluted), compared to net loss of $(2.0) million or $(0.31) per ordinary share (basic and diluted) for the third quarter of 2011.

First 9 Months of 2012: Revenues for the first nine months of 2012 were $12.0 million, a 19% decrease compared to $15.0 million for the first nine months of 2011. Gross profit for the period was 62%, compared to 69% during the first nine months of 2011. The decrease in the gross profit is mainly a result of the lower sales. Net loss for the period was $(4.4) million or $(0.69) per ordinary share (basic and diluted), compared to a net loss of $(2.0) million or $(0.31) per ordinary share (basic and diluted) for the first nine months of 2011. Excluding non-cash stock-based compensation expenses for all periods, the Company's non-GAAP net loss for the first nine months of 2012 was $(4.0) million, or $(0.63) per ordinary share (basic and diluted), compared to a loss of $(1.3) million or $(0.21) per ordinary share (basic and diluted) for the first nine months of 2011.

Comments of Management

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