Radware Ltd. (RDWR) Tops Q1 EPS by 1c, Announce 1-Yr $40M Repurchase Plan

Radware Ltd. (NASDAQ: RDWR) reported Q1 EPS of $0.02, $0.01 better than the analyst estimate of $0.01. Revenue for the quarter came in at $48.9 million versus the consensus estimate of $47.95 million.

Financial Highlights for the First Quarter of 2017

• Revenues for the first quarter of 2017 totaled $48.9 million, up 1.0% from revenues of $48.4 million for the first quarter of 2016.
• Revenues in the Americas region were $18.3 million for the first quarter of 2017, down 8.5% from revenues of $20.0 million in the first quarter of 2016. Revenues in the EMEA region were $14.6 million for the first quarter of 2017, up 16.1% from revenues of $12.6 million in the first quarter of 2016. Revenues in the APAC region were $16.0 million for the first quarter of 2017, up 1.1% from revenues of $15.9 million in the first quarter of 2016.
• Net loss on a GAAP basis for the first quarter of 2017 was ($4.1) million or ($0.09) per share, compared with net loss of ($2.8) million or ($0.06) per diluted share for the first quarter of 2016.
• Non-GAAP net income for the first quarter of 2017 was $0.7 million or $0.02 per diluted share, compared with non- GAAP net income of $2.3 million or $0.05 per diluted share for the first quarter of 2016.
• Non-GAAP results are calculated excluding the impact of stock-based compensation, exchange rate differences, net on balance sheet items, amortization of intangible assets, acquisition related expenses and patent litigation expense. A reconciliation of each of the company’s non-GAAP measures to the comparable GAAP measured is included at the end of this press release.
• As of March 31, 2017 the Company had cash, cash equivalents, short-term and long-term bank deposits and marketable securities of $316.0 million. Cash generated from operations in the first quarter of 2017 totaled $6.3 million.

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

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