Radware revenue slips, but cuts loss in Q1

Application delivery provider Radware showed mixed results in its first-quarter financial report, as the company cut its loss year-over-year, but saw revenues slump 8 percent in the same time frame and missed analysts' consensus estimates. Radware had $20.5 million in revenue and a $6.1 million loss in the first quarter, down from $22.2 million in revenue and an $8.3 million loss in Q1 2008. Analysts had expected revenues of $21.8 million.

"This quarter we continued our progress towards profitability," Radware CEO Roy Zisapel said in a statement. "That coupled with our continued technological leadership as evident by the recent awards from third parties and the acquisition of Nortel's Application Delivery business, has provided Radware with solid advancement towards a key leadership position in the market place."

Radware reported having $114.1 million in cash and marketable securities at the end of the quarter, after the $18 million cash deal for Nortel's app delivery business. 

For more:
- see the Radware press release here 

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