RADCOM Accelerates Momentum in Q4: Q4 Sales Reach $7M, 2011 Sales Reach $22M
finance.yahoo.com
Strong Backlog Gives Visibility for Stronger 2012
Fourth Quarter of 2011: Revenues totaled $7.0 million, up 31% compared with $5.4 million for Q4 2010 and more than double their level in Q3 2011. Gross margin for the quarter increased to 69.9% from 64.6% in Q4 2010.
Annual bookings and backlog reached near-historic highs, reflecting the Company's accelerating momentum with top-tier operators throughout the world.
Operating income increased to $360,000 from $39,000 in Q4 2010, according to U.S. generally accepted accounting principles (GAAP). Excluding share-based compensation expenses from all periods, the Company's non-GAAP operating income for Q4 2011 totaled $564,000, up 22% compared with $461,000 for Q4 2010.
Commenting on the results, Mr. David Ripstein, RADCOM's President and CEO, said, "Our success is being driven by one of the strongest trends in the telecom industry: the explosion of smartphone traffic and its devastating effect on network quality. As a result, 2011 was a period of accelerating revenue momentum and strategic investment that enabled us to reach near-record annual bookings and gross margins, giving us an extremely strong backlog that enables us to project a much stronger 2012."
Mr. Ripstein continued, "This visibility led us to invest throughout 2011 to expand our direct sales capabilities, developing our offices in Singapore, India and Brazil, while also extending our technological edge. Since we expect to maintain a similar level of operational expenses in 2012, a growing proportion of each new sale will contribute to the bottom line. We are therefore confident and excited as we move into 2012. With rising sales, growing markets and a correctly-sized organization, we are fully focused on moving to the next level and on achieving significant top-line and bottom-line growth." |
