Followers | 144 |
Posts | 27709 |
Boards Moderated | 3 |
Alias Born | 02/07/2004 |
Monday, April 03, 2006 4:54:09 AM
03.4.06 | 10:42 By Shirley Yom-Tov
An announcement from an Israeli company on Wall Street on Sunday night usually does not portend well. Indeed, what Radware (Nasdaq: RDWR) had to say was not good news.
First-quarter earnings per share will be roughly half what had been expected: 7 cents per share, instead of 13 cents.
The company, which develops load-routing software for Internet traffic, did not explain the reason for the slide. Its revenue forecast was lowered by only $2.5 million, to $20 million, against it previous expectation of $22.2 million to $22.6 million.
Roy Zisapel, the company's president and chief executive, blamed lower than expected sales in the U.S., which is the company's main market, contributing more than 40% of income.
http://www.haaretz.com/hasen/spages/701914.html
Merrill Lynch: Weak Q1 for Radware
Radware dropped 13% on Nasdaq on Friday.
Shiri Habib 3 Apr 06 11:21
Changes in management and the slow launch of products will mean a weak first quarter for Radware Ltd. (Nasdaq: RDWR; TASE: RDWR), states Merrill Lynch in a new survey of the company. Although Merrill Lynch kept its “Buy” recommendation for the share, the share dropped 13% on Friday, in reaction to the report. It set a target price of $23.50, 33% above Radware’s market price on Nasdaq on Friday.
Merrill Lynch analysts Tal Liani and Stanley Kovler believe that Radware will not be able to meet forecasts of $22.3 million revenue for the first quarter, and $2.7 million in net profit ($0.13 per share).
Liani and Kovler write that change in management at Radware’s US branch could be the reason for the predicted underperformance. In January, Radware replaced David Hubbard as president of Radware Inc. with Larry P. Marino, formerly a VP at AT&T (NYSE:T). Merrill Lynch states, “We believe that this transition could be one of the issues contributing to weak execution.”
Merrill Lynch adds, “As is common with product cycles, there is risk of a spending pause ahead of new product releases (App Switch 5) which may be contributing to the slow start to 2006. Other new products (e.g. SecurFlo, new DefensePro) may be off to a slower start as channel partners adapt to effectively selling these solutions.” Market demand for Radware’s application switches “remains healthy”.
Liani and Kovler predict that while Radware’s share could be weak in the short term, the company’s position will improve during the second half of 2006. They predict that Radware will post $97.1 million revenue in 2006, 25% more than in 2005, and that it will post a net profit of $14.3 million, up 54% over 2005.
Radware provides application switches for routing traffic and managing and securing network data transmission. The company has a market cap of $335 million.
Published by Globes [online], Israel business news - www.globes.co.il - on April 3, 2006
Dubi
Recent RVSN News
- Rail Vision Announces its Participation in Global Events Lineup to Showcase its AI- Driven Railway Products • GlobeNewswire Inc. • 09/20/2024 11:06:00 AM
- Rail Vision Granted U.S. Patent for AI-Powered Railway Obstacle Detection System, Revolutionizing Rail Safety • GlobeNewswire Inc. • 09/05/2024 12:25:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/29/2024 08:17:39 PM
- Rail Vision Announces First Half 2024 Financial Results • GlobeNewswire Inc. • 08/29/2024 08:15:21 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/16/2024 08:05:24 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 08/12/2024 08:00:25 PM
- Rail Vision Granted US Patent Approval on AI-Powered Railway Obstacle Detection System • GlobeNewswire Inc. • 08/12/2024 12:33:00 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 08/07/2024 08:05:47 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/31/2024 08:00:13 PM
- Rail Vision Successfully Installed its AI- based Product at a Leading Global Mining Company • GlobeNewswire Inc. • 07/31/2024 12:55:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 07/26/2024 08:12:22 PM
- Rail Vision Receives Nasdaq Notification Regarding Minimum Bid Requirements • GlobeNewswire Inc. • 07/26/2024 08:10:00 PM
- Rail Vision and Railway News to Launch New Collaboration - Podcast Hosting Industry Leaders • GlobeNewswire Inc. • 07/02/2024 01:02:00 PM
- Rail Vision Received Follow-on Order from Leading US-Based Rail and Leasing Services Company • GlobeNewswire Inc. • 06/25/2024 01:12:00 PM
- Rail Vision Secures Japanese Patent for AI-Powered Railway Obstacle Detection System • GlobeNewswire Inc. • 06/24/2024 01:00:00 PM
- Rail Vision Installed its AI-Driven Product with Loram, a Top US-Based Railway Track Maintenance Supplier • GlobeNewswire Inc. • 06/14/2024 01:29:00 PM
- Rail Vision Successfully Installs AI-Driven System for Class 1 USA Operator • GlobeNewswire Inc. • 06/10/2024 12:36:00 PM
- Rail Vision Reflects on Positive Operational Highlights Since the Start of 2024: Scaling Up Commercialization • GlobeNewswire Inc. • 05/24/2024 12:15:00 PM
- Rail Vision Received Notice of Allowance for US Patent on AI-Powered Railway Obstacle Detection System • GlobeNewswire Inc. • 05/21/2024 01:19:00 PM
- Rail Vision Seeks to Expand US Market Reach with AI- Driven Safety Systems Through Distribution Engagement • GlobeNewswire Inc. • 04/15/2024 01:21:04 PM
- Rail Vision Received $1 Million Order out of a Contract Valued at Up to $5 Million with Leading US-Based Rail and Leasing Services Company • GlobeNewswire Inc. • 04/11/2024 11:17:00 AM
- Rail Vision Wins US Order Advancing Railway Safety with AI Technology • GlobeNewswire Inc. • 04/09/2024 11:08:00 AM
- Rail Vision Receives Purchase Order from Loram, a Top US-Based Railway Track Maintenance Supplier • GlobeNewswire Inc. • 04/03/2024 01:18:00 PM
- Rail Vision Announces Fourth Quarter and Full Year 2023 Financial Results • GlobeNewswire Inc. • 03/28/2024 10:04:30 PM
- Rail Vision Received Approval from Alstom to Install the AI Main Line system on its Locomotives • GlobeNewswire Inc. • 03/26/2024 01:27:00 PM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM