Tel Aviv, Israel-based networking solutions provider Radware Ltd. (RDWR), Monday, posted a narrower loss for the second quarter, helped primarily by a 13% rise in revenues.
Net loss narrowed to $1.67 million or $0.09 per share from $7.07 million or $0.36 per share in the prior-year period.
Latest quarter loss included a $1.37 million stock-based compensation charge and a $1.06 million amortization of intangible assets.
Excluding charges, earnings were $763 thousands or $0.04 per share compared with a loss of $4.96 million or $0.25 per share in the same period last year.
On average, four analysts polled by Thomson Reuters expected the company to report loss of $0.04 per share. Analysts' estimates typically exclude special items.
Revenues rose 13% to $27.08 million from $24.02 million year-over-year. Four analysts had consensus revenue estimate of $25.11 million for the quarter.
Roy Zisapel, chief executive officer said, "This quarter's results demonstrate the strong business model leverage we have as we were able to organically grow our core business while concurrently recording revenues from our newly acquired Nortel Alteon business."
For the six months ended June 30, net loss narrowed to $7.77 million or $0.41 per share from $15.40 million or $0.78 per share in 2008. Excluding charges, loss narrowed to $1.42 million or $0.08 per share from $11.28 million or $0.57 per share in the year-ago period. Revenues for the six month period increased to $47.57 million from $46.19 million in the prior-year period.
RDWR closed Friday's regular trading session at $8.99 on the Nasdaq.
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