World VoIP NewsVoIP provider Radvision describes net loses in 2011 VoIP provider Radvision describes net loses in 2011

VoIP provider Radvision describes net loses in 2011


VoIP provider Radvision describes net loses in 2011
Enterprise RADVISION is the prominent provider of applications and technologies for unified Visual Communications over IP, 3G and IMS networks. Company works in matters of complete set of VoIP and IP video communications bundles and developer toolkits, RADVISION focuses it market efforts in Unified Communications evolution in order to offer high definition Video Conferencing Systems
Company announced that in accordance with the preliminary audit, the Company expects to reach level of revenues for the second quarter of 2011 of approximately $18.0 to $18.5 million. As a result, the whole loss for the second quarter of 2011 is expected to range from $0.41 to $0.44 per diluted share on a GAAP basis and from $0.27 to $0.30 per diluted share on a non-GAAP basis. GAAP results also include a tax asset valuation allowance expense of approximately $1.7 million, equivalent to $0.09 per diluted share. This compares with its forecast on May 5, 2011 that revenues for the 2011 second quarter would approximate $22 million and that the net loss would be approximately $0.17 per diluted share on a GAAP basis and $0.12 per diluted share on a non-GAAP basis. The non-GAAP amounts exclude stock-based compensation expense of $0.5 million in accordance with ASC 718 and amortization of purchased intangible assets of $0.4 million. The revised second quarter analysis is mostly the result of lower than anticipated revenues in the Company’s Video Business Unit (VBU), which are expected to approximate $14.5 to $15.0 million. This includes revenues from Cisco of approximately $1.5 million, which is in line with forecast but substantially below the $9.5 million of revenues from Cisco in the second quarter of 2010. Despite its revised forecast, the Company’s core VBU revenues are expected to increase by more than 30% from the second quarter of 2010, after excluding revenues from Cisco from both periods. Enterprise described that revenues from its Technology Business Unit (TBU) are provisioned to be nearly $3.5 million, which is also below its original forecast for the second quarter of 2011. As representatives from RADVISION described: “While we knew the second quarter would be challenging because of the anticipated substantial drop in Cisco revenues from the second quarter last year, the quarter was more difficult than expected. While our revenues in EMEA, APAC and CALA continued to grow year over year, revenues in our VBU in North America did not meet our plan. Our Company is currently in the midst of becoming an end-to-end video conferencing provider but getting full traction is taking longer than originally expected. Getting back on track with our plan is our priority. We have overcome challenges in the past and we are taking all necessary actions to ensure we return to growth company-wide as quickly as possible.”


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