This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Radcom Reports Good Progress For 2nd Straight Quarter: 9% Rise In Revenues, 71% Reduction In Net Loss & $327k Positive Cash Flow

TEL-AVIV, Israel, April 24, 2013 /PRNewswire/ --

RADCOM Ltd. (NASDAQ: RDCM) today announced its financial results for the first quarter ended March 31, 2013.

    In $ thousands       Q1 2013   Q1 2012   Change

    Revenues              $4,573    $4,179     9%
    Gross margin            66%      63%
    Net loss              $(594)   $(2,034)  (71)%
    Net loss (non-GAAP)   $(512)   $(1,859)  (72)%
    Cash flow              $327     $(390)

Results for the First Quarter of 2013 : Revenues for the first quarter increased by 9% to $4.6 million compared with $4.2 million in the first quarter of 2012. This is on track with the Company's turnaround plan aimed at delivering significant top-line and bottom-line growth in 2013.

Gross margin for the quarter rose to 66% from 63% in the first quarter of 2012, and operating expenses were down 21% year-over-year, reflecting the significant cost reductions put into place during the second half of 2012.

With higher revenues, a stronger gross margin and lower expenses, the Company was able to slash its net loss for the quarter by 71% to ($594,000), or ($0.09) per ordinary share (basic and diluted), from $(2.0 million), or $(0.32) per ordinary share (basic and diluted), in the first quarter of 2012.

On a non-GAAP basis, net loss for the quarter decreased by 72% to $(512,000), or ($0.08) per ordinary share (basic and diluted) from $(1.9 million), or $(0.29) per ordinary share (basic and diluted), in the first quarter of 2012.

Comments of Management

Commenting on the results, David Ripstein, RADCOM's CEO, said, "We are pleased with the results of the first quarter, our second straight period of significant improvement. The rise in our revenues and generation of positive cash flow, both of which are in line with our turnaround plan, position us to deliver on our forecast of strong growth for 2013."."

Mr. Ripstein continued, "As reported last quarter, we continue to benefit from our unique solutions for monitoring data and LTE networks. With no end in sight to the network pressures being created by the explosion in online traffic, infrastructure upgrade projects of all types are being fast-tracked, and there is a clear understanding of the need for monitoring and Customer Experience solutions. Having improved our delivery execution, a number of previously-delayed projects with key customers are now moving forward, helping us transform our strong backlog into recognizable revenues. In parallel, we are excited about a number of sales opportunities, and one highly strategic order from a large LTE operator for whom the availability of our new network optimization solution (QiSolve) was a major decision factor, confirming our confidence about its potential to become a new revenue driver. In addition, we are beginning to take advantage of opportunities that are arising as a result of our recently-formed joint ventures."

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs