CLRS .. perking up .. over 20 ..
PVSW .. no more single digits ..
RDCM .. can't believe I passed on this one
yesterday @ 4 1/4 .. now @ 7 .. only 10 mm shs ..
Revenues for the three months ended September 30, 1999 increased by 46% to $6,006,081 compared to $4,115,725 for the same period in 1998. Gross profit increased by 70% to $4,350,374 compared to $2,572,201 for the third quarter of 1998, resulting in gross margins of 72.4%. The operating loss for the quarter was ($297,883), compared to an operating loss of ($1,196,192) for the third quarter of 1998. The net loss for the quarter was ($97,514), or ($0.01) per share fully diluted, compared to a net loss of ($880,157), or ($0.09) per share fully diluted, for the corresponding period last year.
Revenues for the nine months ended September 30, 1999 increased by 22% to $16,602,469 compared to $13,641,344 for the first nine months of 1998. Gross profit increased by 30% to $12,035,666 compared to $9,238,686 for the first nine months in 1998. The operating loss for the nine months was ($912,372), compared to an operating loss of ($789,473) for the first nine months in 1998. The net loss for the period was ($298,858), or ($0.03) per share fully diluted, as compared to net profit of $188,977, or $0.01 per share for the first nine months of 1998.
Commenting on the results, Arnon Toussia-Cohen, President and CEO of RADCOM, said, "We are very pleased with our third quarter revenues, which reflect continued strong sales of our primary internetwork testing products as well as the contribution of strategic new VoIP products. We are now approaching the successful completion of the first phase of our strategic plan, which was designed to return us to growth and profitability by the end of 1999. As we move into the year 2000, we will build on this foundation and focus our efforts on further developing our customer focus, product offerings, and market penetration.
"We are encouraged by Radcom's early success in the evolving VoIP industry, and believe that the industry offers us even more opportunities than originally expected. Our VoIP products continue to lead the market, giving developers and network builders the tools they need to accelerate development. Although revenues from VoIP sales are still small compared to other product lines, they are growing rapidly. More important is the encouraging reception of AudioPro and other VoIP products by some of the world's largest and most prestigious service providers, which has helped to confirm our leadership position.
"We continue investing heavily in VoIP. At the end of the quarter, we made a major announcement of H323 simulation tools for VoIP products and networks. We believe that convergence of voice and data networks is inevitable, and have started introducing products which address the convergence of IP and cellular networks like GPRS for GSM.
"At the same time, sales momentum continues to build in our primary product line, with PrismLite sales especially strong. We are pleased with sales of our unique PNNI stress simulator, used by service providers to verify the quality of ATM networks.
"The development of a proprietary ASIC continues on track, and is scheduled for completion in the year 2000."
Mr. Toussia-Cohen continued, "During the quarter, we significantly enhanced our US sales and marketing organization through the strategic recruitment of a new American president of our US subsidiary, Tony Wiley. Tony brings significant experience with carriers and distribution channels in the US, as well as strong international experience. He will work to increase our US sales momentum, building upon the current strong level of sales to many of the most prestigious US service providers."
Mr. Toussia-Cohen concluded, "Overall, we are optimistic about Radcom's prospects. The strategic plan which we have carried out during the last 12 months has returned us to solid revenue growth, and positioned us as a voice/data convergence company. Our investments in sales and marketing and R&D have built a solid foundation for sustainable future growth, and we expect to return to profitability in the short term."
RADCOM LTD. designs, manufactures, markets and supports innovative, high performance internetworking test and analysis equipment for data communications networks. The Company's products are used in the development and manufacturing of network equipment, the installation of networks, and the ongoing maintenance of operational networks to facilitate real-time identification, diagnosis, isolation, and resolution of network problems. RADCOM's test and analysis equipment has been sold to a number of international companies and government agencies including AT&T, Bay Networks, British Telecom, Cisco, CompuServe, Deutsche Telekom, French Navy, GTE, IBM, Microsoft, Oracle, Pacific Bell, Siemens, and 3Com.
EOM -----------------------------------------------------
Jim in CT .. |
