RADVISIONs revenues for Q1 2007 reached a record $24.3 million
Here is further evidence that demand for videocnferencing is et to grow strongly in 2007. RADVISION® reports that revenues for Q1 2007 reached a record $24.3 million, a 21% increase from $20.1 million reported in Q1 2006.
Operating income for the first quarter of 2007 was $1.8 million, in line with the first quarter of 2006. The Company achieved non-GAAP operating income of $3.2 million compared with $2.9 million in the same period of 2006, when the effects of stock-based compensation expense related to the adoption of FAS123R in both periods are excluded.
Business unit revenues for Q1 2007 consisted of $18.3 million in Networking Business Unit (NBU) sales, representing an increase of 30% from the first quarter of 2006, and $6.0 million in Technology Business Unit (TBU) sales, which were level with the first quarter of 2006. TBU revenues met the Company’s forecast while NBU revenues exceeded it.
The Company ended the first quarter of 2007 with approximately $155.8 million in cash and liquid investments, equivalent to $6.98 per basic share, and an increase of $10.2 million from December 31, 2006. The increase reflects cash flow from operations of $7.2 million and cash flow from the exercise of options of $3.8 million offset in part by $800,000 of capital expenditures.
Boaz Raviv, Chief Executive Officer, commented: “Our first quarter growth was driven by continued strong demand for our SCOPIATM video platform in the room conferencing market and the success of our channel partner relationships led by Cisco. In total, our room conferencing revenues were almost double those of the first quarter last year as were our revenues through Cisco. This was accompanied by a substantial increase in our room conferencing sales through other channels.”
“We have now introduced SCOPIATM Desktop, which we believe represents another major advance in the Unified Communications market place. SCOPIA Desktop is a simple solution that extends the reach of traditional room conferencing to remote users without complex software installations, licensing fees or firewall transversal problems. It is bundled with our SCOPIA MCU and was developed using elements from our Click to Meet® desktop software. Initial market response has been very exciting.
“Revenues directly from Click to Meet, which integrates advanced video into a variety of desktop environments, totaled $1.1 million in the first quarter, including continued sales to the Federal market. We also completed installation of Click to Meet for Lotus Sametime at two IBM centers in the first quarter. A service provider in Europe, which is standardizing on the Microsoft Windows Communicator and Live Meeting, has initiated a trial using Click to Meet as the video solution. With the introduction of SCOPIA Desktop, we expect the distinction between our room conferencing and desktop sales to be increasingly blurred.”
“In the 3G mobile market, we continued to see strong traction for our SCOPIATM Interactive Video Platform, which enables rapid development and deployment of video services by mobile operators and application service providers, as well as additional sales of our SCOPIATM 3G Video Gateway. Total 3G revenues were $1.8 million for the first quarter.
Mr. Raviv concluded: “The strong first quarter gave us a good start to 2007. We plan to continue our progress throughout the year.” In Q2 2007, revenues are expected to be approximately $25.0 million.
Source: www.radvision.com
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