Sales of the companys DefensePro security switch have also helped bolster the companys financial position, according to Zisapel. DefensePro sales accounted for $2 million of revenue in the fourth quarter, up from $1.1 million in the previous quarter, he says.
This was helped in no small part, by Radwares success in Asia, where major deals were signed with KT Corp., Chunghwa Telecom Co. Ltd., and Sina (see Radware Racks Up Asian Deals).
However, Zisapel admits that Radware is coming up against some stiff competition in the security space. F5 Networks Inc. (Nasdaq: FFIV) is growing faster than us, he says, although he adds that, overall, Radware is gaining market share.
Zisapel was less forthcoming on Radwares product roadmap. After launching its Application Switch III device last February, the company is now planning a new applicance for 2005. We will be launching a new hardware platform, but we dont want to provide any specifics, he adds.
The market responded positively to the results. In early trading today, Radware shares were up 18 cents (0.74 percent) to $24.35.
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