Radware posts wider Q1 loss; sees profitablity in Q4, shrs slip
(Recasts; adds details, share movement)
April 28 (Reuters) - Radware Ltd (RDWR.O: Cotización), which makes equipment to manage traffic on the Internet, posted a wider quarterly loss on higher expenses, and forecast a return to profitability later than what analysts had expected, sending its shares to their lowest in four years.
The company expects to return to operating profitability by the fourth quarter. Analysts were expecting the Israel-based company to turn in profits in the third quarter itself, according to Reuters Estimates data.
The company posted a loss of $8.3 million, or 42 cents a share, in the first quarter, compared with a loss of $3.6 million, or 18 cents a share, a year earlier.
Excluding exceptional items, the company reported a loss of 32 cents a share for the quarter.
Sales rose 12 percent to $22.2 million.
Analysts were expecting a loss of 5 cents a share, on revenue of $23.4 million.
Certain decisions with respect to revenue recognition after the end of the quarter caused recorded revenue to fall slightly below expectations, the company said in a statement.
Operating expenses rose almost 35 percent to $27 million. Continuación...