--Revenues reach $18.5 million; EPS hits $0.10 on a non-GAAP basis ($0.06 on a GAAP basis)--
Key highlights:
- Second quarter revenues reached $18.5 million, a 35% increase over the second quarter of 2010
- Second quarter non-GAAP net profit of $2.7 million; non-GAAP EPS grew to $0.10 from $0.08 in the first quarter of 2011
- Cash, cash equivalents, marketable securities and restricted cash totaled approximately $63.5 million; generated approximately $3 million in cash from operations during the quarter
- Added five new Tier 1 service providers during the second quarter
Boston, MA – August 1, 2011 – Allot Communications Ltd. (NASDAQ: ALLT), a leading supplier of service optimization and revenue generation solutions for fixed and mobile broadband service providers worldwide, today announced continued improved financial results for the second quarter of 2011.
Total revenues for the second quarter of 2011 reached $18.5 million, a 35% increase from the $13.6 million of revenues reported for the second quarter of 2010, and an 8% increase from the $17.2 million of revenues reported for the first quarter of 2011. On a GAAP basis, net profit for the second quarter of 2011 was $1.6 million, or $0.07 per basic share and $0.06 per diluted share. This compares with a net loss of $7.4 million, or $0.33 per share (basic and diluted), in the second quarter of 2010, and a net profit of $1.6 million, or $0.07 per basic share and $0.06 per diluted share, in the first quarter of 2011.
On a non-GAAP basis, excluding the impact of share-based compensation, amortization of certain intangibles and one-time expenses related to M&A activities, non-GAAP net profit for the second quarter of 2011 totaled $2.7 million, or $0.11 per basic share and $0.10 per diluted share, compared with a non-GAAP net profit of $0.8 million, or $0.03 per share (basic and diluted), for the second quarter of 2010, and non-GAAP net profit of $2.2 million, or $0.09 per basic share and $0.08 per diluted share, for the first quarter of 2011.
These non-GAAP measures should be considered in addition to, and not as a substitute for, comparable GAAP measures. The non-GAAP results and a full reconciliation between GAAP and non-GAAP results are provided in the accompanying Tables 2 and 3. The Company provides these non-GAAP financial measures because it believes that they present a better measure of the Company’s core business and management uses the non-GAAP measures internally to evaluate the Company’s ongoing performance. Accordingly, the Company believes that they are useful to investors in enhancing an understanding of the Company’s operating performance.
“We are pleased to report another solid growth quarter, as demand for Allot’s solutions continues to grow across an increasing number of service providers throughout the world, particularly among Tier 1 mobile and fixed operators" commented Rami Hadar, Allot Communications' President and Chief Executive Officer. “The Service Gateway has become a leading solution to meet the ever-increasing challenge our customers face in managing mobile data. We continue to explore ways to increase the breadth and functionality of the Service Gateway platform through additional partnerships as well as through M&A opportunities.”
Recently, the Company achieved the following significant goals:
- Added 5 new service providers, located throughout the world, to its growing customer list;
- During the quarter, received orders from 18 large service providers, of which 5 represented new customers and 13 represented expansion deals;
- Signed the first contract with a Russian Tier 1 operator through its partnership with Nokia Siemens Networks.
As of June 30, 2011, cash, cash equivalents, marketable securities and restricted cash totaled approximately $63.5 million.
Conference Call & Webcast
The Allot management team will host a conference call to discuss its second quarter 2011 earnings results today at 8:30 AM ET, 3:30 PM Israel time.
To access the conference call, please dial one of the following numbers: US: +1 212 444 0412, UK: +44 (0)20 7136 6283, Israel: +972 3721 9509, confirmation code 9577749.
A replay of the conference call will be available from 12:01 am ET on August 2, 2011 through September 1, 2011 at 11:59 pm ET. To access the replay, please dial: US: +1 347 366 9565, UK: +44 (0)20 7111 1244, access code: 9577749#.
A live webcast of the conference call can be accessed on the Allot Communications website at www.allot.com. The webcast will also be archived on the website following the conference call.
Download the Financial Tables
About Allot Communications
Allot Communications Ltd. (NASDAQ: ALLT) is a leading provider of intelligent IP service optimization and revenue generation solutions for fixed and mobile service providers. Allot's scalable, carrier-grade solutions provide the visibility, topology awareness, security, application control and subscriber management that are vital to managing Internet service delivery, enhancing user experience, containing operating costs, and maximizing revenue in broadband networks. Allot's rich portfolio of solutions leverages dynamic actionable recognition technology (DART) to transform broadband pipes into smart networks that can rapidly and efficiently deploy value added Internet services. For more information, please visit http://www.allot.com.
Safe Harbor Statement
Information provided in this press release may contain statements relating to current expectations, estimates, forecasts and projections about future events that are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally relate to the Company's plans, objectives and expectations for future operations. These forward-looking statements are based upon management's current estimates and projections of future results or trends. Actual results may differ materially from those projected as a result of certain risks and uncertainties. These factors include, but are not limited to: our ability to increase the breadth and functionality of the Service Gateway platform through additional partnerships as well as through M&A opportunities, changes in general economic and business conditions; the Company’s inability to develop and introduce new technologies, products and applications; loss of market; and other factors discussed under the heading "Risk Factors" in the Company's annual report on Form 20-F filed with the Securities and Exchange Commission. These forward-looking statements are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Investor Relations Contact:
Jay Kalish
Executive Director Investor Relations
International access code +972-54-221-1365
jkalish@allot.com