Radware Ltd. Announces Record Results

* Record quarter revenues of $12.8 million

* Quarterly EPS of $0.12



Apr 30, 2001, 01:00 ET from Radware Ltd.

    TEL AVIV, Israel, April 30 /PRNewswire/ -- Radware (Nasdaq: RDWR), a
 leading provider of Intelligent Traffic Management (ITM) solutions that bring
 certainty to dynamic networks, ensuring optimal, continuous, personalized and
 secure service, today is pleased to report that first quarter 2001 revenues
 increased to $12.8 million, an increase of 96% compared with $6.5 million from
 the same period of 2000.
     Net income for the first quarter of fiscal 2001 was $2,064 thousand or
 $0.12 per diluted share, compared to net income of $856 thousand or $0.05 per
 diluted share in the same period of 2000.
     "We are pleased to report a profit for the sixth consecutive Quarter,"
 stated Roy Zisapel, President and CEO of Radware. " Our revenues reflect
 Radware's technological leadership and we remain focused on extending our
 intelligent traffic management solutions to meet our customers growing needs."
     "Despite the market slowdown, Radware continued to meet expectations as
 sales from all regions and channel partners were strong. We are able to
 deliver significant revenue and earnings growth, which clearly reflects the
 strength of our products."
     During the quarter ended March 31, 2001, RADWARE released the following
 significant announcements:
 
     *     Radware's WSD named a 2001 finalist by Network Computing for
           Well-Connected Award
     *     Radware announces high-end LinkProof
     *     Radware -- The Market Leader in Firewall Traffic Management --
           increases speed and functionality in its Fireproof product
     *     Radware announces it's new SSL Accelerator. A new product in the
           CertainT series of application services
     *     Radware and e2Home join forces to create the intelligent home of
           today
     *     Radware joins CacheFlow Ace partnership, delivers cIQ-Powered
           Solution
     *     Radware Implements its Award Winning Traffic Management Solutions at
           Credit du Nord
     *     Radware's FireProof high availability with load balancing product
           receives OPSEC certification for check point VPN-1/Firewall-1
 
     Company management will host a quarterly investor conference call at 8:45
 AM EST on Monday, April 30, 2001. The call will focus on financial results for
 the quarter ended March 31, 2001, and certain other matters related to the
 Company's business.
     The conference call will be webcast on Monday, April 30th at 8:45 AM (EST)
 In the "listen only" mode via the Internet at
 http://www.radware.com/content/about/investor.htm
 
 
     About Radware
     Radware's suite of Intelligent Traffic Management (ITM) products is
 designed to optimize the end user experience by eliminating network
 uncertainty and downtime. Radware's product line combines its latest
 application switching technology and architecture with the company's industry
 proven traffic management software to help users keep their sites available 24
 hours a day. Radware offers a broad range of ITM solutions to service
 providers, e-commerce businesses and corporate enterprises that require
 uninterrupted availability and optimal performance of IP-based applications.
 Users receive optimal, continuous, secure and personal service with the use of
 Radware's award-winning ITM solutions: Web Server Director, Cache Server
 Director, FireProof and LinkProof. Radware's Application Switches bring
 certainty to dynamic networks with products that guarantee the best service
 from click to content. Get certain with Radware.  For more information, please
 visit us at http://www.radware.com
 
     This press release contains forward-looking statements.  Such statements
 involve various risks that may cause actual results to differ materially.
 These risks and uncertainties include, but are not limited to: market demand
 for the company's products, successful implementation of the company's
 products, economic and competitive factors, international market conditions,
 technological developments, the ability to finance operations and other
 factors which are detailed in the company's SEC filings.
 
                          Consolidated Balance Sheets
                          (U.S. Dollars in thousands)
 
 
                                                 December 31,      March 31,
                                                         2000           2001
     Current assets
     Cash and cash equivalents                          4,501          4,784
     Short term bank deposits and debentures          126,323        126,402
     Trade receivables, net                             9,254          9,052
     Other receivables and prepaid expenses             1,613          1,113
     Inventories                                        4,174          4,162
                                                      145,865        145,513
 
     Long term loan                                       721          1,621
     Property and equipment, net                        2,788          3,652
     Deposit with insurance companies                     676            730
     Security deposit                                      45             55
     Total assets                                     150,095        151,571
 
     Current liabilities
     Trade payables                                     6,677          4,213
     Other payables and accrued expenses                6,770          8,446
                                                       13,447         12,659
 
     Accrued severance pay                                672            748
     Minority's interest                                   45             24
     Total liabilities                                 14,164         13,431
     Shareholders' equity
     Share capital                                        401            402
     Additional paid-in capital                       131,541        131,598
     Deferred compensation                              (892)          (805)
     Accumulated earnings                               4,881          6,945
     Total shareholders' equity                       135,931        138,140
     Total liabilities and shareholders' equity       150,095        151,571
 
 
                      Consolidated statement of operations
                 (U.S. Dollars in thousands, except share data)
 
                                                For the Three  For the Three
                                                 months ended   months ended
                                                    March 31,      March 31,
                                                         2000           2001
 
     Sales                                              6,537         12,810
     Cost of sales                                      1,046          2,106
     Gross profit                                       5,491         10,704
     Research & Development, net                          938          1,978
     Sales & Marketing                                  4,537          7,520
     General & Administrative                             652          1,005
     Total operating expenses                           6,127         10,503
     Operating profit (loss)                            (636)            201
     Financial income , net                             1,492          2,043
     Income before taxes on income                        856          2,244
     Taxes on income                                       --          (202)
     Minority's interest                                   --             22
     Net income                                           856          2,064
 
     Basic net income per share                         $0.06          $0.13
 
 
     Weighted Average shares used to compute
      Basic net income per share                   15,469,594     16,338,441
 
     Diluted net income per share                       $0.05          $0.12
 
     Weighted Average shares used to compute
      Diluted net income per share                 17,023,861     17,317,451
 
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X69423541
 
 

SOURCE Radware Ltd.
    TEL AVIV, Israel, April 30 /PRNewswire/ -- Radware (Nasdaq: RDWR), a
 leading provider of Intelligent Traffic Management (ITM) solutions that bring
 certainty to dynamic networks, ensuring optimal, continuous, personalized and
 secure service, today is pleased to report that first quarter 2001 revenues
 increased to $12.8 million, an increase of 96% compared with $6.5 million from
 the same period of 2000.
     Net income for the first quarter of fiscal 2001 was $2,064 thousand or
 $0.12 per diluted share, compared to net income of $856 thousand or $0.05 per
 diluted share in the same period of 2000.
     "We are pleased to report a profit for the sixth consecutive Quarter,"
 stated Roy Zisapel, President and CEO of Radware. " Our revenues reflect
 Radware's technological leadership and we remain focused on extending our
 intelligent traffic management solutions to meet our customers growing needs."
     "Despite the market slowdown, Radware continued to meet expectations as
 sales from all regions and channel partners were strong. We are able to
 deliver significant revenue and earnings growth, which clearly reflects the
 strength of our products."
     During the quarter ended March 31, 2001, RADWARE released the following
 significant announcements:
 
     *     Radware's WSD named a 2001 finalist by Network Computing for
           Well-Connected Award
     *     Radware announces high-end LinkProof
     *     Radware -- The Market Leader in Firewall Traffic Management --
           increases speed and functionality in its Fireproof product
     *     Radware announces it's new SSL Accelerator. A new product in the
           CertainT series of application services
     *     Radware and e2Home join forces to create the intelligent home of
           today
     *     Radware joins CacheFlow Ace partnership, delivers cIQ-Powered
           Solution
     *     Radware Implements its Award Winning Traffic Management Solutions at
           Credit du Nord
     *     Radware's FireProof high availability with load balancing product
           receives OPSEC certification for check point VPN-1/Firewall-1
 
     Company management will host a quarterly investor conference call at 8:45
 AM EST on Monday, April 30, 2001. The call will focus on financial results for
 the quarter ended March 31, 2001, and certain other matters related to the
 Company's business.
     The conference call will be webcast on Monday, April 30th at 8:45 AM (EST)
 In the "listen only" mode via the Internet at
 http://www.radware.com/content/about/investor.htm
 
 
     About Radware
     Radware's suite of Intelligent Traffic Management (ITM) products is
 designed to optimize the end user experience by eliminating network
 uncertainty and downtime. Radware's product line combines its latest
 application switching technology and architecture with the company's industry
 proven traffic management software to help users keep their sites available 24
 hours a day. Radware offers a broad range of ITM solutions to service
 providers, e-commerce businesses and corporate enterprises that require
 uninterrupted availability and optimal performance of IP-based applications.
 Users receive optimal, continuous, secure and personal service with the use of
 Radware's award-winning ITM solutions: Web Server Director, Cache Server
 Director, FireProof and LinkProof. Radware's Application Switches bring
 certainty to dynamic networks with products that guarantee the best service
 from click to content. Get certain with Radware.  For more information, please
 visit us at http://www.radware.com
 
     This press release contains forward-looking statements.  Such statements
 involve various risks that may cause actual results to differ materially.
 These risks and uncertainties include, but are not limited to: market demand
 for the company's products, successful implementation of the company's
 products, economic and competitive factors, international market conditions,
 technological developments, the ability to finance operations and other
 factors which are detailed in the company's SEC filings.
 
                          Consolidated Balance Sheets
                          (U.S. Dollars in thousands)
 
 
                                                 December 31,      March 31,
                                                         2000           2001
     Current assets
     Cash and cash equivalents                          4,501          4,784
     Short term bank deposits and debentures          126,323        126,402
     Trade receivables, net                             9,254          9,052
     Other receivables and prepaid expenses             1,613          1,113
     Inventories                                        4,174          4,162
                                                      145,865        145,513
 
     Long term loan                                       721          1,621
     Property and equipment, net                        2,788          3,652
     Deposit with insurance companies                     676            730
     Security deposit                                      45             55
     Total assets                                     150,095        151,571
 
     Current liabilities
     Trade payables                                     6,677          4,213
     Other payables and accrued expenses                6,770          8,446
                                                       13,447         12,659
 
     Accrued severance pay                                672            748
     Minority's interest                                   45             24
     Total liabilities                                 14,164         13,431
     Shareholders' equity
     Share capital                                        401            402
     Additional paid-in capital                       131,541        131,598
     Deferred compensation                              (892)          (805)
     Accumulated earnings                               4,881          6,945
     Total shareholders' equity                       135,931        138,140
     Total liabilities and shareholders' equity       150,095        151,571
 
 
                      Consolidated statement of operations
                 (U.S. Dollars in thousands, except share data)
 
                                                For the Three  For the Three
                                                 months ended   months ended
                                                    March 31,      March 31,
                                                         2000           2001
 
     Sales                                              6,537         12,810
     Cost of sales                                      1,046          2,106
     Gross profit                                       5,491         10,704
     Research & Development, net                          938          1,978
     Sales & Marketing                                  4,537          7,520
     General & Administrative                             652          1,005
     Total operating expenses                           6,127         10,503
     Operating profit (loss)                            (636)            201
     Financial income , net                             1,492          2,043
     Income before taxes on income                        856          2,244
     Taxes on income                                       --          (202)
     Minority's interest                                   --             22
     Net income                                           856          2,064
 
     Basic net income per share                         $0.06          $0.13
 
 
     Weighted Average shares used to compute
      Basic net income per share                   15,469,594     16,338,441
 
     Diluted net income per share                       $0.05          $0.12
 
     Weighted Average shares used to compute
      Diluted net income per share                 17,023,861     17,317,451
 
 
                     MAKE YOUR OPINION COUNT -- Click Here
                http://tbutton.prnewswire.com/prn/11690X69423541
 
 SOURCE  Radware Ltd.