Radware boosts 4Q outlook; shares hit 2-year high

AP News
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Posted: Dec 28, 2009 11:22 AM

Radware Ltd., which makes network management software, on Monday lifted its fourth-quarter financial guidance, sending shares climbing in morning trading.

The Israeli company said it now expects to earn an adjusted 19 cents to 21 cents per share on $31 million to $32 million in revenue. Previously, it forecast 15 to 16 cents per share on $30 million in revenue.

"We are pleased to report continued momentum in our business with yet another record quarter of sales," CEO Roy Zisapel said in a statement.

Analysts surveyed by Thomson Reuters are calling for a smaller 15 cents per share on revenue of $30 million, on average. Such estimates are typically adjusted to exclude one-time items.

Shares of Radware rose 75 cents, or 5.3 percent, to $14.97 in morning trading. Earlier in the session, the stock hit a two-year high of $15.49.