RADCOM Reports 57% Year-Over-Year Revenue Increase & Positive Cash Flow For Q3 2013
finance.yahoo.com
Commenting on the results, David Ripstein, RADCOM's CEO, said, "The third quarter was a period of continued strategic progress and momentum that was masked by certain events that affected our financial results, as detailed above. Although we are pleased to report another quarter of strong year-over-year growth, the period's revenue recognition fluctuations prevented us from achieving the sequential growth we had expected. The shifted revenues, combined with the bookings we have achieved during the past few weeks, are a solid basis for a strong fourth quarter in line with the trend that has been building through 2013.
"In fact, a number of factors make us excited about our future prospects: especially the growing size and quality of opportunities in the market, the growth of our sales pipeline and high win rate, the increase in our partner activities and the strength of our bookings and backlog. Equally important, we continue to develop exciting new products that bring even more value to our customers, and whose higher software component will enable us to achieve better gross margins and profitability over the long term. As such, we remain optimistic and continue to see strong growth ahead – in both the top and bottom line - for 2013." |
