Integrated solutions provider Radware (Nasdaq: RDWR; TASE:RDWR) today reported its eleventh consecutive quarter of growth in revenues with an increase of 24% in revenue.
Net profit for the second quarter of 2004 was $3 million, an increase of more than 150% compared with net profit of $1.2 million in the second quarter of 2003 and a sequential increase of 10% as compared with net profit of $2.8 million in the first quarter of 2004.
Revenue for the second quarter of 2004 was $16.3 million, compared with revenues of $13.2 million for the second quarter of 2003, and compared with $15.5 million revenues for the first quarter of 2004.
The company met the high end of analysts' forecasts, with diluted net earnings per share for the second quarter of 2004 were $0.16, compared to $0.07 in the second quarter of 2003 or $0.14 in the first quarter of 2004.
The company continued to maintain a positive operational cash flow, and in the first quarter of 2004 generated cash in the amount of $1.7 million, leading it to a balance of $145.2 million in cash, short-term and long-term bank deposits and marketable securities.
During the quarter, Radware announced that its share would be listed on the Tel Aviv Stock Exchange in addition to its Nasdaq listing.
Published by Globes [online] - www.globes.co.il - on Monday, July 26, 2004