On Monday, Allot Communications Ltd. (NASDAQ: ALLT) remained among the day losers and traded with change of -1.17% on volume of 31,288 shares in the last session as compared to average volume of 20252 shares. During last trade its minimum price was $4.96 and it gained highest price of $5.13. ALLT has total market capitalization of $169.95M. Its closing value stands at $5.06.
Allot Communications Ltd. (NASDAQ: ALLT) (TASE: ALLT), a global provider of leading innovative network intelligence and security solutions for service providers worldwide, today declared its first quarter 2018 financial results.
Q1 2018 – Financial Highlights
Revenues were $21.7 million, up 18% year-over-year;
GAAP gross margin was 68%; Non-GAAP gross margin was 70%;
GAAP operating loss of $3.5 million; non-GAAP operating loss of $2.3 million;
Book-to-bill above one for the fifth consecutive quarter;
Management maintains its previously issued guidelines for 2018.
Management continues to expect 2018 revenues to grow to between $91 – 95 million with the second half of the year stronger than the first half, reflecting typical seasonality;
2018 Book to Bill is expected at above 1;
Erez Antebi, President & CEO of Allot, commented:
“The results in the first quarter of 2018 show we are on track in successfully executing the turnaround process we began last year and the transition to a security company.
“We see a growing number of communication service providers worldwide realize that offering secure broadband at a premium price creates a substantial revenue potential as well as providing an important service to their customers.
“Allot’s position as a leading technology provider for such security services puts us in a unique position to take advantage of this market opportunity. We strongly believe that with over 20 million subscribers protected by AllotSecure technology worldwide, this is just the beginning.”
Q1 2018 Financial Results Summary
Total revenues for the first quarter of 2018 were $21.7 million, up 18% compared to $18.4 million in the first quarter of 2017.
Gross profit on a GAAP basis for the first quarter of 2018 was $14.8 million (gross margin of 68.1%), a 22% improvement compared with $12.1 million (gross margin of 65.7%) in the first quarter of 2017.
Gross profit on a non-GAAP basis for the first quarter of 2018 was $15.1 million (gross margin of 69.6%), a 21% improvement compared with $12.5 million (gross margin of 67.5%) in the first quarter of 2017.
Net loss on a GAAP basis for the first quarter of 2018 was $3.7 million, or $0.11 per basic share, compared with a net loss of $5.1 million, or $0.15 per basic share, in the first quarter of 2017.
Non-GAAP net loss for the first quarter of 2018 was $2.4 million, or $0.07 per basic share, compared with a non-GAAP net loss of $3.6 million, or $0.11 per basic share, in the first quarter of 2017.
Cash and investments as of March 31, 2018 totaled $104.7 million. The Company recorded negative operating cash flow of $1.1 million during the first quarter of 2018.
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