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Radcom Losses Shrink on Sharply Higher Revenues
Published on:
Radcom has announced that its fourth-quarter revenues jumped by 70% to reach US$5.2 million, while the net loss shrank to US$332,000 from US$1.8 million a year ago.
The company' said that the improvement in the net loss reflected the higher revenues and lower expenses, countered by financial expenses and an inventory write-off of approximately $200,000.
The strong bookings received during the quarter enabled the company to increase its backlog to a near-record $19.7 million. The majority of the new bookings are expansion orders initiated by existing customers.
Commenting on the results, David Ripstein , RADCOM's CEO, said, "We are pleased to report that we have returned to significant forward momentum, with our results benefitting from the market's strong need for Customer Experience solutions in an era of unprecedented network congestion."
"As such, we are very optimistic as we move into 2013. With a near-record backlog, high-potential new products, stronger-than-ever interest in our solutions, a smooth-working global organization and a lean operating model, we are positioned to generate significant top-line and bottom-line growth in 2013 and beyond." he added.
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