Net income on a GAAP basis for the first quarter of 2013 was $4.5 million or
$0.10 per diluted share, compared with net income of $6.9 million or $0.15 per diluted share for the first quarter of 2012.
Net income on a Non-GAAP basis for the first quarter of 2013 was $7.0 million or
$0.15 per diluted share, compared with net income of $9.0 million or $0.19 per diluted share for the first quarter of 2012.
At the end of the first quarter 2013, following the cash payment related to the acquisition of Strangeloop Networks Inc. in the amount of approximately $8.4 million, the company's overall cash position including cash, short-term and long term bank deposits and marketable securities amounted to $273.6 million, representing a decrease in the company's cash position of approximately $1.3 million in the first quarter of 2013.
The earnings per share presented for all prior periods were restated to reflect the effects of the stock split that occurred April 12, 2013.
"Despite lower than expected quarterly revenues, we continue to see a long term strong market need for delivering and securing applications across enterprise, carrier and cloud data centers. We believe we will be able to translate the growth in mobile data, cyber threats and attacks, and cloud computing to revenue growth in 2013," stated Roy Zisapel president and chief executive officer, Radware.
During the first quarter 2013, Radware released the following significant
- Radware Releases Global Security Report - Reveals New Cyber Attack Methods
Uncovering Blind-Spots Unrecognized by Security Professionals and Organizations
- Radware Ltd. Announces Fourth Quarter 2012 Results
- Radware Acquires Strangeloop Networks, Leader in Web-Performance Optimization
(WPO) Solutions for e-commerce and Enterprise Applications
- Radware to Present at 2013 RSA Conference: Stock Exchanges in the Line of Fire
- Morphology of Cyber-Attacks
- Radware Unveils New Network Cloud Platform to Provide an Application
Provider-Edge and Advanced Attack Mitigation System for Mobile Carriers
- Radware Introduces its New Cloud Based Attack Mitigation Solution to Protect
Customers Against Internet Pipe Saturation
- Radware and Mellanox Combine Technology to Enable Mobile Carriers to Leverage
Network Functions Virtualization (NFV) and Software Defined Networking (SDN)
- Radware and Level 3 Announce Key Findings on Page Speed of Europe's Top 400
- Radware to Present at Admin & Infrastructure 2013
- New Radware Report Reveals Top Retailers Continue to Struggle with Slow
Website Load Times, Often Ignoring Industry Best Practices
- Radware to Keynote at SecureWorld Boston 2013: Information Security
Adaptation: Survival in an Evolving Threat Landscape
- Radware Announces a 2-for-1 Forward Share Split
Company management will host a quarterly investor conference call at 8:45am ET on April 25, 2013. The call will focus on financial results for the quarter ending March 31, 2013 and other matters related to the Company's business.
The conference call will be webcast on April 25, 2013 at 8:45am ET in the "listen only" mode via the Internet at:
http://www.radware.com/Company/InvestorRelations/default.aspx and will be available for replay during the next 30 days.
Please use the following dial-in numbers to participate in the first quarter