Record Quarterly Revenues Reported; Non-GAAP Loss Reduced by 50%
HOD HASHARON, Israel, August 12 /PRNewswire-FirstCall/ -- Allot
Communications Ltd. (NASDAQ:ALLT), a leader in IP service
optimization solutions based on deep packet inspection (DPI)
technology, today reported a continued improvement in its quarterly
results with the announcement of its financial results for the
second quarter ended June 30, 2009. Key highlights: - Second
quarter revenues totaled $10.0 million, representing a 7% increase
over first quarter of 2009 - Non-GAAP loss continues to decline,
with second quarter non-GAAP net loss totaling $0.4 million, or
$0.02 per basic and diluted share, from $0.8 million, or $0.04 per
basic and diluted share, in the first quarter of 2009, and from
$1.9 million, or $0.09 per basic and diluted share, in the second
quarter of 2008 - As of June 30, 2009, cash, cash equivalents,
deposits and investments in marketable securities totaled $54.8
million - The Company received approximately $5 million in orders
to date from a global Tier 1 mobile operator under a new frame
agreement. Total revenues for the second quarter of 2009 reached
$10.0 million, a 6% increase from the $9.5 million of revenues
reported in the second quarter of 2008 and a 7% increase from the
$9.4 million of revenues reported for the first quarter of 2009. On
a GAAP basis, net loss for the second quarter of 2009 was $1.0
million, or $0.05 per share (basic and diluted). This compares with
a net loss of $3.8 million, or $0.17 per share (basic and diluted),
in the second quarter of 2008, and a net loss of $2.9 million, or
$0.13 per share (basic and diluted), in the first quarter of 2009.
On a non-GAAP basis, excluding the impact of share-based
compensation, auction-rate securities (ARS) devaluation, certain
legal expenses and amortization of acquired core technology, net
loss for the second quarter of 2009 totaled $0.4 million, or $0.02
per share (basic and diluted), as compared with a non-GAAP net loss
of $0.8 million, or $0.04 per share (basic and diluted), for the
first quarter of 2009 and a non-GAAP net loss of $1.9 million, or
$0.09 per share (basic and diluted), for the second quarter of
2008. These non-GAAP measures should be considered in addition to,
and not as a substitute for, comparable GAAP measures. A full
reconciliation between GAAP and non-GAAP net loss is provided in
the accompanying Table 2. The Company provides these non-GAAP
financial measures because it believes that they present a better
measure of the Company's core business and management uses the
non-GAAP measures internally to evaluate the Company's ongoing
performance. Accordingly, the Company believes that they are useful
to investors in enhancing an understanding of the Company's
operating performance. "While we continue to grow in the
traditional service provider market, the primary growth engine we
are currently seeing is in the mobile market, which was highlighted
by our signing a frame agreement towards the end of the quarter
with a global Tier 1 mobile operator group, which led to initial
orders of approximately $5 million to date," commented Allot
President and CEO Rami Hadar. "A study we published recently
demonstrates the significant growth in mobile data traffic, and the
need for Allot's solution to enable service providers to manage
their networks in the short term, while providing them with the
means to drive additional revenues from their networks going
forward. "We are pleased with our continued sales growth in the
quarter, highlighted by the record sales we achieved. Coupled with
our strong cash position, we believe that we are well positioned to
meet the growing opportunities in our target markets," concluded
Hadar. Recently, the Company achieved the following significant
goals: - More than 20 service providers worldwide using the Service
Gateway platform; - During the quarter, concluded 15 large deals
with service providers, of which 6 represented new customers and 9
represented expansion deals; - Release of the MediaSwift as part of
the Company's value added services offering. As of June 30, 2009,
cash, cash equivalents, deposits and investments in marketable
securities totaled $54.8 million. Recent external valuations showed
an increase in value of certain ARS in the Company's portfolio as
of the end of the second quarter. As a result, the Company recorded
an unrealized net gain of $1.2 million to the other comprehensive
income in its shareholders' equity, leaving the Company with a
total of $15.4 million in ARS at the end of the quarter. To date,
our ARS have paid all their interest payments. Conference Call
& Webcast The Allot management team will host a conference call
to discuss its second quarter 2009 earnings results on Wednesday,
August 12, 2009, at 8:30 AM EDT, 3:30 PM Israel time. The quarterly
and annual results will be published prior to the conference call.
To access the conference call, please dial one of the following
numbers: US: 1-866-966-5335, International: +44-20-3003-2666,
Israel: 1-809-216-213. A replay of the conference call will be
available from 12:01 am EST on Aug 13, 2009 through September 13,
2009 at 11:59 pm EST. To access the replay, please dial:
+44-20-8196-1998, access code: 650204#. A live webcast of the
conference call can be accessed on the Allot Communications website
at http://www.allot.com/. The webcast will also be archived on the
website following the conference call. About Allot Communications
Allot Communications Ltd. (NASDAQ:ALLT) is a leading provider of
intelligent IP service optimization solutions. Designed for
carriers, service providers and enterprises, Allot solutions apply
deep packet inspection (DPI) technology to transform broadband
pipes into smart networks. This creates the visibility and control
vital to manage applications, services and subscribers, guarantee
quality of service (QoS), contain operating costs and maximize
revenue. Allot believes in listening to customers and provides them
access to its global network of visionaries, innovators and support
engineers. For more information, please visit
http://www.allot.com/. Safe Harbor Statement Information provided
in this press release may contain statements relating to current
expectations, estimates, forecasts and projections about future
events that are "forward-looking statements" as defined in the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements generally relate to the Company's plans,
objectives and expectations for future operations. These
forward-looking statements are based upon management's current
estimates and projections of future results or trends. Actual
results may differ materially from those projected as a result of
certain risks and uncertainties. These factors include, but are not
limited to: changes in general economic and business conditions
and, specifically, a decline in demand for the Company's products;
the Company's inability to develop and introduce new technologies,
products and applications; loss of market; and other factors
discussed under the heading "Risk Factors" in the Company's annual
report on Form 20-F filed with the Securities and Exchange
Commission. These forward-looking statements are made only as of
the date hereof, and the Company undertakes no obligation to update
or revise the forward-looking statements, whether as a result of
new information, future events or otherwise. TABLE 1 ALLOT
COMMUNICATIONS LTD. AND ITS SUBSIDIARIES CONSOLIDATED STATEMENTS OF
OPERATIONS (U.S. dollars in thousands, except share and per share
data) Three Months Ended Six Months Ended June 30, June 30, 2009
2008 2009 2008 (Unaudited) (Unaudited) ___________ ___________
Revenues $ 10,009 $ 9,461 $ 19,378 $ 17,720 Cost of revenues 2,784
2,488 5,310 4,630 _____ _____ ______ _____ Gross profit 7,225 6,973
14,068 13,090 _____ _____ ______ _____ Operating expenses: Research
and Development costs, net 2,100 3,123 4,507 6,220 Sales and
marketing 4,853 5,476 9,257 10,520 General and administrative 1,466
1,610 2,859 3,109 In-process research and development - - - 244
_____ _____ _____ _____ Total Operating expenses 8,419 10,209
16,623 20,093 _____ _____ _____ _____ Operating loss (1,194)
(3,236) (2,555) (7,003) Financial and other income (expenses), net
312 (444) (1,212) (1,459) _____ _____ ______ ______ Loss before
income tax expenses (882) (3,680) (3,767) (8,462) Income tax
expenses 112 70 116 101 _____ _____ ______ _____ Net loss $ (994) $
(3,750) $ (3,883) $ (8,563) ===== ===== ====== ===== Basic and
diluted net loss per share $ (0.05) $ (0.17) $ (0.18) $ (0.39)
====== ===== ====== ===== Weighted average number of shares used in
computing basic and diluted net loss per Share 22,070,416
22,058,963 22,069,909 22,042,867 ========== ========== ==========
========== TABLE 2 ALLOT COMMUNICATIONS LTD. AND ITS SUBSIDIARIES
RECONCILATION OF GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF
OPERATIONS (U.S. dollars in thousands, except per share data) Three
Months Ended Six Months Ended June 30, June 30, 2009 2008 2009 2008
(Unaudited) (Unaudited) ___________ ___________ GAAP net loss as
reported $ (994) $ (3,750) $ (3,883) $ (8,563) _______ ________
_________ _________ Non-GAAP adjustments: Expenses recorded for
stock-based compensation Cost of revenues 28 16 53 30 Research and
development costs, net 89 81 178 156 Sales and marketing 197 162
306 290 General and administrative 292 213 579 421 In-process
research and development - - - 244 Expenses related to a law suit -
general and administrative - 25 - 46 Core technology Amortization -
cost of revenues 30 30 58 58 ____ _____ _____ ____ Total
adjustments to operating loss 635 527 1,174 1,245 Impairment of
auction rate securities - financial and other income (expenses),
net - 1,285 1,575 3,435 ____ ______ ______ ______ Total adjustments
635 1,812 2,749 4,680 ____ ______ ______ ______ Non-GAAP net loss $
(359) $ (1,938) $ (1,134) $ (3,883) ===== ====== ====== ====== Non-
GAAP basic and diluted net loss per share $ (0.02) $ (0.09) $
(0.05) $ (0.18) ====== ====== ====== ====== TABLE 3 ALLOT
COMMUNICATIONS LTD. AND ITS SUBSIDIARIES CONSOLIDATED BALANCE
SHEETS (U.S. dollars in thousands) June 30, December 31, 2009 2008
(Unaudited) (Audited) __________ _________ ASSETS CURRENT ASSETS:
Cash and cash equivalents $ 35,323 $ 40,029 Short term deposits and
restricted deposits 4,120 2,121 Trade receivables 8,122 6,163 Other
receivables and prepaid expenses 1,356 1,959 Inventories 4,737
4,259 ______ ______ Total current assets 53,658 54,531 ______
______ LONG-TERM ASSETS: Marketable securities 15,364 15,319
Severance pay fund 3,295 3,402 Other assets 887 874 ______ ______
Total long-term assets 19,546 19,595 ______ ______ PROPERTY AND
EQUIPMENT, NET 4,733 4,970 ______ ______ GOODWILL AND INTANGIBLE
ASSETS, NET 3,698 3,755 ______ ______ Total assets $ 81,635 $
82,851 ====== ====== LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT
LIABILITIES: Trade payables $ 3,041 $ 2,902 Deferred revenues 4,971
4,475 Other payables and accrued expenses 7,355 6,466 ______ ______
Total current liabilities 15,367 13,843 ______ ______ LONG-TERM
LIABILITIES: Deferred revenues 2,209 2,293 Accrued severance pay
3,264 3,536 ______ _____ Total long-term liabilities 5,473 5,829
______ _____ SHAREHOLDERS' EQUITY 60,795 63,179 ______ _____ Total
liabilities and shareholders' equity $ 81,635 $ 82,851 ======
====== Investor Relations Contact: Jay Kalish Executive Director
Investor Relations International dial +972-54-221-1365 DATASOURCE:
Allot Communications Ltd. CONTACT: Investor Relations Contact: Jay
Kalish, Executive Director Investor Relations, International dial
+972-54-221-1365,
Copyright
Grafico Azioni Allot (NASDAQ:ALLT)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Allot (NASDAQ:ALLT)
Storico
Da Lug 2023 a Lug 2024