Radware Ltd Announces 2Q10 Results

* Record quarterly revenues of $35.2 million

* Record Non-GAAP operating profit of $4.0 million

* Non-GAAP EPS $0.21

PR Newswire -- July 27, 2010







TEL AVIV, Israel, July 27 /PRNewswire-FirstCall/ -- Radware (Nasdaq: RDWR), a leading provider of integrated application delivery solutions for business-smart networking, today reported record quarterly revenues of $35.2 million for the second quarter of 2010. This represents an increase of 30% compared with revenues of $27.1 million for the second quarter of 2009 and an increase of 6% compared with revenues of $33.1 million in the first quarter of 2010.



Net income on a GAAP basis for the second quarter of 2010 was $1.4 million or $0.07 per diluted share, compared with a net loss of $1.7 million or $0.09 per diluted share for the second quarter of 2009.



Net income on a Non-GAAP basis for the second quarter of 2010 was $4.3 million or $0.21 per diluted share, compared with a net income of $0.6 million or $0.03 per diluted share in the second quarter of 2009.



At the end of the second quarter of 2010, the company's overall cash position including cash, short-term and long-term bank deposits and marketable securities amounted to $149.2 million, representing an increase of approximately $35 million in the company's cash position in the last 12 months.



"Radware has steadily delivered quarter-over-quarter gains for five quarters running now. This continued increase in revenues, in combination with our increase in market share, is a clear indication of our sustained business strength," stated Roy Zisapel, President & CEO Radware. "We believe with our investments in R&D, differentiated market opportunities and expanded field operations that we can continue to grow both the top and bottom lines."



During the quarter ended June 30, 2010, Radware released the following significant announcements:

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