Video conferencing solutions developer Radvision Ltd. (Nasdaq: RVSN; TASE: RVSN) yesterday raised its guidance for the fourth quarter of 2011. On the basis of preliminary results it expects $21.5-22 million revenue for the fourth quarter, compared with its previous forecast of $18 million. Radvision will publish its fourth quarter and full year financial report on February 8.
The company also lowered its loss-per share guidance to $0.25-0.28 from $0.37 on a GAAP basis and $0.18-0.21 from $0.31 on a non-GAAP basis.
Radvision attributes its higher guidance to record sales of its video endpoint products and stronger than expected infrastructure sales. It raised the sales guidance for its Video Business Unit (VBU) to $18-18.5 million from $14 million, and it also expects $3.5-4 million sale from its Technology Business Unit (TBU).
Radvision CEO Boaz Raviv said that the improved forecast for the fourth quarter showed that the company's effort to transform Radvision into an end-to-end video conferencing provider was taking effect. He also pointed to the company's sequential improvement in all its regions in the face of a challenging year.
Radvision's share price fell 3.5% in morning trading on the TASE today to NIS 33.15, after rising 1.2% on Nasdaq yesterday to $8.57, giving a market cap of $158 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 4, 2012
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