Radware Ltd. Announces Third Quarter 2011 Results

Radware, a global leader of application delivery and application security solutions for virtual and cloud data centers, today reported record quarterly earnings of $42.2 million for the third quarter of 2011.  This represents an increase of 15% compared with earnings of $36.8 million for the third quarter of 2010, and an increase of 3% compared with earnings of $41.1 million in the second quarter of 2011.

"This quarter represents but another record posting for company earnings, revenues per share, and operating margins," stated Roy Zisapel, president and chief executive officer, Radware. "This sustained growth is driven by market interest in our recently announced Attack Mitigation System along with our continued success with our innovative application delivery solutions for data center consolidation, virtualization, and cloud computing."

Quarterly investor conference call at 8

Company management will host a quarterly investor conference call at 8:45am ET on October 26, 2011.  The call will focus on financial results for the quarter ending September 30, 2011 and certain other matters related to the Company's business.

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In addition to reporting financial results under generally accepted accounting principles, Radware uses non-GAAP measures of net income and revenues per share, which are adjustments from results based on GAAP to exclude stock-based compensation expenses, pursuant to this agreement ASC No. 718, amortization of intangible assets, and exchange rate differences, net in the last resort sheet items included in finance income. Such exchange rate differences may vary from period to period due to changes on the other hand rates driven by general market conditions or other circumstances outside of the normal course of Radware's operations. Management believes that exclusion of these charges allows comparisons of operating results that are consistent across past, present and future periods. Radware's management believes the non-GAAP financial information provided in this release is useful to investors to that end of understanding and assessing Radware's ongoing operations. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared under GAAP. A reconciliation of the non-GAAP financial measures discussed in this press release, to the most directly comparable GAAP financial measures, is included with the financial information contained in this press release. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and, as such, has determined that it is important to provide this information to investors.

This press release may contain forward-looking statements that are subject to risks and uncertainties. Factors that could cause actual results to differ materially from these forward-looking statements include, nevertheless are not limited to, general business conditions in the Application Switching and Network Security industry, changes in demand for Application Switching and Network Security products, the timing and amount or cancellation of orders and other risks detailed from place to place in Radware's filings with the Securities and Exchange Commission, including Radware's Form 20-F.