Business
Radware Announces First Quarter 2020 Earnings
First Quarter 2020 Results and Financial Highlights Revenues of $60.0 million; down 2% year over yearNon-GAAP EPS of $0.14; GAAP EPS of $0.05Net cash provided
About this update from Radware Ltd.
[{"type":"text","content":"First Quarter 2020 Results and Financial Highlights\n Revenues of $60.0 million; down 2% year over yearNon-GAAP EPS of $0.14; GAAP EPS of $0.05Net cash provided by operating activities of $21 million for the first quarter, and $50 million for the last twelve monthsTotal deferred revenue, as defined by the company, balance of $181 million, up 14% from last year TEL AVIV, Israel, May 06, 2020 (GLOBE NEWSWIRE) -- Radware® (NASDAQ: RDWR), a leading provider of cyber security and application delivery solutions, today announced its consolidated financial results for the quarter ended March 31, 2020. “Radware entered the COVID-19 crisis in a strong position, and continues to execute on its strategy and pursue its long-term goals through it,“ said Roy Zisapel, Radware’s President & CEO. “Our performance in the first quarter reflects solid revenue and profitability and strong cash generation. We believe that with our strong customer base, large and growing subscription business, superior cloud security offering, and solid cash position, we are well-positioned to navigate this unprecedented crisis and resume long-term growth.” Financial Highlights for the First Quarter of 2020 Revenues for the first quarter of 2020 totaled $60.0 million, down 2% from revenues of $61.4 million for the first quarter of 2019: Revenues in the Americas region were $29.2 million for the first quarter of 2020, up 19% compared to revenues of $24.7 million in the first quarter of 2019.Revenues in the EMEA region were $18.2 million for the first quarter of 2020, down 1% from revenues of $18.4 million in the first quarter of 2019.Revenues in the APAC region were $12.6 million for the first quarter of 2020, down 31% from revenues of $18.4 million in the first quarter of 2019. Net income on a GAAP basis for the first quarter of 2020 was $2.6 million, or $0.05 per diluted share, compared with net income of $4.4 million, or $0.09 per diluted share, for the first quarter of 2019. Non-GAAP net income for the first quarter of 2020 was $6.6 million, or $0.14 per diluted share, compared with non- GAAP net income of $8.9 million, or $0.18 per diluted share, for the first quarter of 2019. Non-GAAP results are calculated excluding, as applicable, the impact of stock-based compensation expenses, amortization of intangible assets, acquisition costs, litigation costs, exchange rat...