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Radware Doubles Profits From 2003

Switch manufacturer Radware Ltd. (Nasdaq: RDWR) unveiled its third-quarter results today, posting record revenues of $17.6 million and diluted earnings per share of 19 cents. Revenues were up 25 percent on the third quarter of 2003, and earnings per share were almost double the year-ago figure.

Earnings per share were in line with analyst expectations, and revenues just topped predictions of $17.56 million.

Speaking on a conference call earlier today, Radware CEO Roy Zisapel attributed the companys performance to an improving global economic climate. “We see a strengthening environment,” he said. “The U.S., Europe, and Asia/Pacific are doing nicely.”

The company is also delivering on its promise to increase its stateside revenues, albeit slowly. Last quarter it announced plans to expand the U.S. side of its business, which then represented 42 percent of its total revenues (see Radware Rings Up Q2).

On today's conference call, execs confirmed that this figure is now at 43 percent. “We’re seeing much better execution in the U.S. and, as a result, much better numbers,” said Zisapel.

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