RADCOM Returns To Positive Momentum In Q4: Revenues Of $5.2M Returns Company To Operating Profit (Non-GAAP); Strong Bookings Build Backlog To $20M
Stock quotes in this article:
RDCM
RADCOM Ltd.
Consolidated Statements of Operations
(1000's of U.S. dollars, except share and per share data)
Three months ended Twelve months ended
December 31, December 31,
2012 2011 2012 2011
(Unaudited) (Unaudited) (Unaudited) (Audited)
Sales $ 5,152 $ 7,004 $ 15,786 $ 21,987
Cost of sales 1,842 2,110 6,182 6,680
Gross profit 3,310 4,894 9,604 15,307
Research and
development, gross 1,500 1,534 6,102 5,866
Less - royalty-bearing
participation 427 229 1,567 1,235
Research and development,
net 1,073 1,305 4,535 4,631
Sales and marketing 1,781 2,716 8,515 9,962
General and administrative 657 513 2,107 2,234
Total operating expenses 3,511 4,534 15,157 16,827
Operating income (loss) (201) 360 (5,553) (1,520)
Financing expenses, net (131) (296) (314) (384)
Taxes on Income - - (120) -
Net income (loss) (332) 64 (5,987) (1,904)
Basic net income (loss)
per ordinary Share $ (0.05) $ 0.01 $ (0.93) $ (0.30)
Diluted net income
(loss) per ordinary share $ (0.05) $ 0.01 $ (0.93) $ (0.30)
Weighted average number of
ordinary shares used in
computing basic net income
(loss) per ordinary share 6,449,780 6,398,885 6,442,068 6,367,560
Weighted average number of
ordinary shares used in
computing diluted net income
(loss) per ordinary share 6,449,780 6,708,515 6,442,068 6,367,560
RADCOM Ltd.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION (1000's of U.S. dollars, except share and per share data)
Three Months Ended Twelve Months Ended
December 31, December 31,
2012 2011 2012 2011
(Unaudited) (Unaudited) (Unaudited) (Unaudited)
GAAP net
income (loss) $(332) $64 $(5,987) $(1,904)
Stock-based
compensation
(1) 274 204 672 824
Non-GAAP net
income (loss) $(58) $268 $(5,315) $(1,080)
Non-GAAP
earnings
(loss) per
share
(diluted) ($0.01) $0.04 $(0.83) $(0.17)
Number of
shares used in
computing
Non-GAAP
earnings
(loss) per
share
(diluted) 6,449,780 6,708,515 6,442,068 6,367,560
(1)
Stock-based
compensation:
Cost of sales 1 4 14 27
Research and
development 61 41 205 218
Selling and
marketing 33 34 167 231
General and
administrative 179 125 286 348
274 204 672 824
RADCOM Ltd.
Consolidated Balance Sheets
(1000's of U.S. dollars)
As of As of
December 31, December 31,
2012 2011
(Unaudited) (Audited)
Current Assets
Cash and cash equivalents 1,474 2,901
Short term deposits 1,452 -
Trade receivables, net 3,292 5,389
Inventories 6,736 6,590
Other receivables 2,685 3,490
Total Current Assets 15,639 18,370
Severance pay fund 3,090 2,674
Property and equipment, net 268 301
Total Assets 18,997 21,345
Liabilities and Shareholders' Equity
Current Liabilities
Short term bank credit 1,058 -
Short term loans 1,527 -
Trade payables 1,920 2,703
Employee and payroll accruals 2,018 2,087
Deferred revenue and advances from
customers 2,100 894
Other payables and accrued expenses 1,822 2,016
Total Current Liabilities 10,445 7,700
Long-Term Liabilities
Deferred revenue 37 161
Accrued severance pay 3,518 3,092
Total Long-Term Liabilities 3,555 3,253
Total Liabilities 14,000 10,953
Shareholders' Equity
Share capital 251 250
Additional paid-in capital 61,469 60,754
Accumulated other comprehensive loss (322) (197)
Accumulated deficit (56,401) (50,415)
Total Shareholders' Equity 4,997 10,392
Total Liabilities and Shareholders'
Equity 18,997 21,345
Contact:
Gilad Yehudai
CFO
+1(972) 77-774-5060
gilady@radcom.com
SOURCE Radcom Ltd
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