Radware hits new heights

Radware's recent spate of good results is showing no sign of abating after the Israel-based network security vendor made net sales of $36.8m (£23.17m), up 25.8% year-on-year and a new record. GAAP net profit at the firm was up to $3.7m from $200,000 this time last year, beating analyst expecta

Radware's recent spate of good results is showing no sign of abating after the Israel-based network security vendor made net sales of $36.8m (£23.17m), up 25.8% year-on-year and a new record.

GAAP net profit at the firm was up to $3.7m from $200,000 this time last year, beating analyst expectations by some margin.

Radware's acquisition of Nortel's Alteon unit, and subsequent speculation that it would be bought by HP or IBM have sent interest in the comparatively small company to new heights. Its share price is understood to have almost doubled since May.

CEO Roy Zisapel hailed new records in operating income, EPS and cash balance.

"This year is proving to be a very significant year for Radware, solidifying our position as a key influencer in the application delivery and network security markets," he said.

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