Radcom Ltd. (NASDAQ: RDCM) reported Q1 EPS of ($0.20), $0.09 better than the analyst estimate of ($0.29). Revenue for the quarter came in at $6.05 million versus the consensus estimate of $3.98 million.

First Quarter 2019 Financial Highlights:

• Revenues: Total revenues for the first quarter were $6.0 million, down 45% compared to $10.9 million in the first quarter of 2018
• Net Income (loss): GAAP net loss for the period was $3.1 million, or $0.23 per diluted share, compared to GAAP net income of $0.3 million, or $0.02 per diluted share for the first quarter of 2018
• Non-GAAP Net Income (loss): Non-GAAP net loss for the period was $2.7 million, or $0.20 per diluted share, compared to non-GAAP net income of $1.0 million, or $0.07 per diluted share for the first quarter of 2018
• Balance sheet: As of March 31, 2019, the Company had cash and cash equivalents and short-term bank deposits of $56.8 million and no debt

"The year began with the signing of a 3-year agreement with AT&T which validates our close working relationship. We are encouraged by the ongoing trust they place in our advanced virtualized technology which we continue to develop, enhance, and deliver for their pioneering network transformation" commented Mr. Yaron Ravkaie, RADCOM's CEO. "We are reiterating our guidance of $28-$32 million for 2019 and continue to focus on delivering innovative solutions to our customers by investing in R&D and maintaining our position as the 'go to' assurance vendor of telco virtualization. We expect our continued product development will bear fruit when more operators are ready to move forward with their transition to NFV and begin their 5G rollouts."

For earnings history and earnings-related data on Radcom Ltd. (RDCM) click here.