Radware Ltd. (RDWR) Misses Q1 EPS by 1c, Revenues Miss

Radware Ltd. (NASDAQ: RDWR) reported Q1 EPS of $0.14, $0.01 worse than the analyst estimate of $0.15. Revenue for the quarter came in at $60 million versus the consensus estimate of $61.95 million.

First Quarter 2020 Results and Financial Highlights

• Revenues of $60.0 million; down 2% year over year
• Non-GAAP EPS of $0.14; GAAP EPS of $0.05
• Net cash provided by operating activities of $21 million for the first quarter, and $50 million for the last twelve months
• Total deferred revenue, as defined by the company, balance of $181 million, up 14% from last year

“Radware entered the COVID-19 crisis in a strong position, and continues to execute on its strategy and pursue its long-term goals through it,“ said Roy Zisapel, Radware’s President & CEO. “Our performance in the first quarter reflects solid revenue and profitability and strong cash generation. We believe that with our strong customer base, large and growing subscription business, superior cloud security offering, and solid cash position, we are well-positioned to navigate this unprecedented crisis and resume long-term growth.”

For earnings history and earnings-related data on Radware Ltd. (RDWR) click here.

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