Allot Communications Ltd. (Nasdaq:ALLT; TASE: ALLT) reported double-digit growth and tripled its profit for the fourth quarter and full year of 2011, beating the revenue consensus.
Revenue rose 36% to $77.8 million in 2011 from $57 million in 2010. GAAP-based net profit was $8.8 million ($0.35 per share) compared with net loss of $5.8 million tripled to $12.5 million ($0.50 per share) from $4.1 million. The company missed the analysts' consensus of $0.44 per share, but beat the revenue consensus of $76.5 million revenue.
Fourth quarter revenue rose 36% to $22 million from $16.2 million for the corresponding quarter of 2011. GAAP-based net profit nearly tripled to $3.5 million ($0.13 per share) for the fourth quarter from $1.3 million for the corresponding quarter, and non-GAAP net profit rose to $4.2 million ($0.15 per share) from $1.8 million. The company beat the analysts' consensus of $0.12 per share, but beat the revenue consensus of $20.9 million revenue.
Allot had $159.4 million in cash, cash equivalents, short term deposits and marketable securities, and no debt at the end of 2011.
Allot president and CEO Rami Hadar attributed the company's growth to its leading position in the mobile market. "With video-based applications becoming an ever-increasing challenge for wireline and mobile data networks, we are seeing an increasing number of opportunities throughout Europe, Asia-Pacific, and the Americas. Our Service Gateway provides the broadest and most robust feature set and services for Tier 1 operators. It is a major reason for our being chosen for the largest mobile DPI deployment in the world, which covers both 3G and 4G/LTE topologies."
Allot's share price rose 9.1% by midday on the TASE today to NIS 67.94, after rising 5.7% on Nasdaq yesterday to $17.96, giving a market cap of $537 million.
Published by Globes [online], Israel business news - www.globes-online.com - on February 7, 2012
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