Security provider Radware reported positive second quarter 2017 results as the company highlighted multiple customer wins, including its largest deal ever with a content delivery network (CDN) provider. The company didn’t name which provider, but it was an existing customer.
Radware continues to deliver its family of distributed denial of service (DDoS) products to CDN providers, service providers, and resellers. For instance, in March 2016 Cisco made Radware’s DDoS module available on its next-generation firewall.
Similarly, the security vendor touted a new reseller agreement with Nokia it announced in July. The carrier has been selling Radware’s full suite of products, including its DDoS suite, to other carriers and telco cloud providers. Specifically, Radware’s offerings have been paired with Nokia’s Deepfield software, which provides visibility into the performance of cloud applications.
“During the first half of 2017, we already participated with Nokia on several deals, and we currently see a solid and growing pipeline of additional opportunities Nokia is leading,” said Radware President and CEO Roy Zisapel, according to a Seeking Alpha transcript.
Running the Numbers
For the second quarter 2017, Radware reported revenues of $51 million, up 3 percent from $49.6 million for the second quarter in 2016.
GAAP net loss for the second quarter 2017 was $4.1 million, or $0.09 per diluted share, compared with a net loss of $1.3 million, or $0.03 per diluted share for the same period last year.
Non-GAAP net income for the quarter was $1.2 million, or $0.03 per diluted share, compared with non-GAAP net income of $2.6 million, or $0.06 per diluted share for the same period last year.
Looking ahead to third quarter 2017, the company expects revenues to be between $51 million and $53 million.