Radcom Shrinks Losses as Revenue Growth Continues
Published on: 24th Apr 2013
Note -- this news article is more than a year old.
Israel based Radcom has reported that its revenues for the first quarter increased by 9% to USD4.6 million compared with $4.2 million in the first quarter of 2012.
Gross margin for the quarter rose to 66% from 63% in the first quarter of 2012, and operating expenses were down 21% year-over-year, reflecting the significant cost reductions put into place during the second half of 2012.
The company said that this is on track with its turnaround plan aimed at delivering significant top-line and bottom-line growth in 2013.
The company still posted a net loss of US$594,000, which was down by 71% over the previous year.
Commenting on the results, David Ripstein, Radcom's CEO, said: "As reported last quarter, we continue to benefit from our unique solutions for monitoring data and LTE networks."
"In parallel, we are excited about a number of sales opportunities, and one highly strategic order from a large LTE operator for whom the availability of our new network optimization solution (QiSolve) was a major decision factor, confirming our confidence about its potential to become a new revenue driver. In addition, we are beginning to take advantage of opportunities that are arising as a result of our recently-formed joint ventures."