HOD HASHARON, Israel,
Feb. 5, 2019 /PRNewswire/ -- Allot Ltd. (NASDAQ:
ALLT) (TASE: ALLT), a global provider of leading innovative
network intelligence and security solutions for service providers
worldwide, today announced its fourth quarter and full year 2018
financial results.
Fourth Quarter 2018 – Financial Highlights
- Revenues were $26.9 million, up
16% year-over-year;
- GAAP gross margin improved to 69.1% up from 66.8% in Q4
2017;
- Non-GAAP gross margin improved to 70.3% up from 68.4% in Q4
2017;
- GAAP operating loss narrowed to $1.4
million compared to $4.3
million in Q4 2017;
- Non-GAAP operating loss at $99
thousand compared to a loss of $1.3
million in Q4 2017;
- Book-to-bill above one;
2018 – Financial Highlights
- Revenues were $95.8 million, up
17% year-over-year;
- GAAP gross margin improved to 69.4% up from 65.2% in 2017;
Non-GAAP gross margin improved to 70.7% up from 68.0% in 2017;
- GAAP operating loss reduced to $10.2
million compared to a loss of $17.4
million in 2017; Non-GAAP operating loss reduced to
$4.8 million compared to $8.6 million in 2017;
- Full year book-to-bill above one;
- Backlog grew by $13.3 million to
$68.9 million at year-end 2018
compared to $55.6 million at year-end
2017;
- Year-end cash and investments totaled to $103.9 million;
Financial Outlook
- Management expects 2019 revenues to grow to between
$106-110 million, representing
continued double-digit year-over-year growth;
- Full year 2019 book to bill ratio is expected to be above
1;
- Management expects to close several security subscription-based
deals in 2019 in addition to the Tier-1 European deal recently
announced
Management Comment
Erez Antebi, President &
CEO of Allot, commented: "We are very pleased with our
performance in 2018, with revenues growing at a faster pace than we
had originally expected . Our DPI business performed well in 2018,
resulting from much improved execution of our teams across the
globe. We are also satisfied with our performance in the security
space: our pipeline of "security opex deals" is strong and we
expect to close several such deals that can bring impact on our
future growth beyond 2019."
Continued Mr. Antebi, "As we enter into 2019, I have
increased confidence in our long-term potential. Following our
restructuring and changes, we are now executing better in sales,
support and R&D and we look forward to continue to leverage
these strengths to create continuing growth in 2019 and
beyond."
Q4 2018 Financial Results Summary
Total revenues for the fourth quarter of 2018 were
$26.9 million, up 16% compared to
$23.2 million in the fourth quarter
of 2017.
Gross profit on a GAAP basis for the fourth quarter of
2018 was $18.6 million (gross margin
of 69.1%), a 20% improvement compared with $15.5 million (gross margin of 66.8%) in the
fourth quarter of 2017.
Gross profit on a non-GAAP basis for the fourth quarter
of 2018 was $18.9 million (gross
margin of 70.3%), a 19% improvement compared with $15.9 million (gross margin of 68.4%) in the
fourth quarter of 2017.
Net loss on a GAAP basis for the fourth quarter of 2018
was $1.8 million, or $0.05 per basic share, an improvement compared
with a net loss of $4.3 million, or
$0.13 per basic share, in the fourth
quarter of 2017.
Non-GAAP net loss for the fourth quarter of 2018 was
$455 thousand, or $0.01 per basic share, an improvement compared
with a non-GAAP net loss of $1.5
million, or $0.04 per basic
share, in the fourth quarter of 2017.
2018 Financial Results Summary
Total revenues for 2018 were $95.8
million, up 17% compared to $82.0
million in 2017.
Gross profit on a GAAP basis for 2018 was $66.5 million (gross margin of 69.4%), a 24%
improvement compared with $53.5
million (gross margin of 65.2%) in 2017.
Gross profit on a non-GAAP basis for 2018 was
$67.8 million (gross margin of
70.7%), a 22% improvement compared with $55.7 million (gross margin of 68.0%) in
2017.
Net loss on a GAAP basis for 2018 was $10.4 million, or $0.31 per basic share, an improvement compared
with a net loss of $18.1 million, or
$0.54 per basic share, in 2017.
Non-GAAP net loss for 2018 was $5.1 million, or $0.15 per basic share, an improvement compared
with a non-GAAP net loss of $8.7
million, or $0.26 per basic
share, in 2017.
Cash and investments as of December 31, 2018 totaled $103.9 million, compared to $104.7 million as of September 30, 2018 and $110.0 million as of December 31, 2017.
Conference Call & Webcast:
The Allot management team will host a conference call to discuss
fourth quarter and full year 2018 earnings results today,
February 5, 2019 at 8:30 am ET, 3:30 pm
Israel time. To access the
conference call, please dial one of the following numbers:
US: 1-888-668-9141, UK: 0-800-917-5108, Israel: +972-3-918-0609
A live webcast and, following the end of the call, an archive of
the conference call, will be accessible on the Allot website at:
http://investors.allot.com/index.cfm
About Allot
Allot Ltd. (NASDAQ: ALLT, TASE: ALLT) is a provider of leading
innovative network intelligence and security solutions for service
providers worldwide, enhancing value to their customers. Our
solutions are deployed globally for network and application
analytics, traffic control and shaping, network-based security
services, and more. Allot's multi-service platforms are deployed by
over 500 mobile, fixed and cloud service providers and over 1000
enterprises. Our industry leading network-based security as a
service solution has achieved over 50% penetration with some
service providers and is already used by over 21 million
subscribers in Europe. Allot. See.
Control. Secure.
For more information, visit www.allot.com
GAAP to Non-GAAP Reconciliation:
The difference between GAAP and non-GAAP revenues is related to
the acquisitions made by the Company and represents revenues
adjusted for the impact of the fair value adjustment to acquired
deferred revenue related to purchase accounting. Non-GAAP net
income is defined as GAAP net income after including deferred
revenues related to the fair value adjustment resulting from
purchase accounting and excluding stock-based compensation
expenses, amortization of acquisition-related intangible assets,
deferred tax asset adjustment, restructuring expenses, changes in
taxes related items and other acquisition-related expenses.
These non-GAAP measures should be considered in addition to, and
not as a substitute for, comparable GAAP measures. The non-GAAP
results and a full reconciliation between GAAP and non-GAAP results
is provided in the accompanying Table 2. The Company provides these
non-GAAP financial measures because it believes they present a
better measure of the Company's core business and management uses
the non-GAAP measures internally to evaluate the Company's ongoing
performance. Accordingly, the Company believes they are useful to
investors in enhancing an understanding of the Company's operating
performance.
Safe Harbor Statement
This release contains forward-looking statements, which express
the current beliefs and expectations of Company management. Such
statements involve a number of known and unknown risks and
uncertainties that could cause our future results, performance or
achievements to differ significantly from the results, performance
or achievements set forth in such forward-looking statements.
Important factors that could cause or contribute to such
differences include risks relating to: our ability to compete
successfully with other companies offering competing technologies;
the loss of one or more significant customers; consolidation of,
and strategic alliances by, our competitors, government regulation;
the timing of completion of key project milestones which impact the
timing of our revenue recognition; lower demand for key value-added
services; our ability to keep pace with advances in technology and
to add new features and value-added services; managing lengthy
sales cycles; operational risks associated with large projects; our
dependence on fourth party channel partners for a material portion
of our revenues; court approval of the Company's proposed share
buy-back program; and other factors discussed under the heading
"Risk Factors" in the Company's annual report on Form 20-F filed
with the Securities and Exchange Commission. Forward-looking
statements in this release are made pursuant to the safe harbor
provisions contained in the Private Securities Litigation Reform
Act of 1995. These forward-looking statements are made only as of
the date hereof, and the company undertakes no obligation to update
or revise the forward-looking statements, whether as a result of
new information, future events or otherwise.
TABLE -
1
|
ALLOT
LTD.
|
AND ITS
SUBSIDIARIES
|
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
(U.S. dollars in
thousands, except share and per share data)
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
|
Year
Ended
|
|
December
31,
|
|
|
December
31,
|
|
2018
|
|
2017
|
|
|
2018
|
|
2017
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
|
|
|
|
|
Revenues
|
$
26,885
|
|
$
23,198
|
|
|
$
95,837
|
|
$
81,992
|
Cost of
revenues
|
8,296
|
|
7,710
|
|
|
29,349
|
|
28,530
|
Gross
profit
|
18,589
|
|
15,488
|
|
|
66,488
|
|
53,462
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Research and
development costs, net
|
6,632
|
|
5,753
|
|
|
25,418
|
|
21,852
|
Sales and
marketing
|
10,754
|
|
10,810
|
|
|
40,849
|
|
38,316
|
General and
administrative
|
2,616
|
|
3,187
|
|
|
10,416
|
|
10,696
|
Total operating
expenses
|
20,002
|
|
19,750
|
|
|
76,683
|
|
70,864
|
Operating
loss
|
(1,413)
|
|
(4,262)
|
|
|
(10,195)
|
|
(17,402)
|
Financial and other
income, net
|
601
|
|
338
|
|
|
2,208
|
|
894
|
Loss before income
tax expenses
|
(812)
|
|
(3,924)
|
|
|
(7,987)
|
|
(16,508)
|
|
|
|
|
|
|
|
|
|
Tax
expenses
|
1,005
|
|
416
|
|
|
2,428
|
|
1,564
|
Net Loss
|
(1,817)
|
|
(4,340)
|
|
|
(10,415)
|
|
(18,072)
|
|
|
|
|
|
|
|
|
|
Basic net
loss per share
|
$
(0.05)
|
|
$
(0.13)
|
|
|
$
(0.31)
|
|
$
(0.54)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net
loss per share
|
$
(0.05)
|
|
$
(0.13)
|
|
|
$
(0.31)
|
|
$
(0.54)
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in
|
|
|
|
|
|
|
|
|
computing basic net
loss per share
|
33,860,114
|
|
33,412,701
|
|
|
33,710,507
|
|
33,253,158
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in
|
|
|
|
|
|
|
|
|
computing diluted net
loss per share
|
33,860,114
|
|
33,412,701
|
|
|
33,710,507
|
|
33,253,158
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TABLE -
2
|
ALLOT
LTD.
|
AND ITS
SUBSIDIARIES
|
RECONCILIATION OF
GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF
OPERATIONS
|
(U.S. dollars in
thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Year
Ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
GAAP
Revenues
|
$
26,885
|
|
$
23,198
|
|
$
95,837
|
|
$
81,992
|
Fair value
adjustment for acquired deferred revenues write
down
|
-
|
|
-
|
|
-
|
|
37
|
Non-GAAP
Revenues
|
$
26,885
|
|
$
23,198
|
|
$
95,837
|
|
$
82,029
|
|
|
|
|
|
|
|
|
GAAP cost of
revenues
|
$
8,296
|
|
$
7,710
|
|
$
29,349
|
|
$
28,530
|
Share-based
compensation (1)
|
(60)
|
|
(83)
|
|
(316)
|
|
(362)
|
Amortization of
intangible assets (2)
|
(233)
|
|
(232)
|
|
(930)
|
|
(938)
|
Restructuring
expenses (4)
|
-
|
|
-
|
|
-
|
|
(887)
|
Changes in tax
related items (5)
|
(17)
|
|
(56)
|
|
(17)
|
|
(56)
|
Non-GAAP cost of
revenues
|
$
7,986
|
|
$
7,339
|
|
$
28,086
|
|
$
26,287
|
|
|
|
|
|
|
|
|
GAAP gross
profit
|
$
18,589
|
|
$
15,488
|
|
$
66,488
|
|
$
53,462
|
Gross profit
adjustments
|
310
|
|
372
|
|
1,263
|
|
2,280
|
Non-GAAP gross
profit
|
$
18,899
|
|
$
15,860
|
|
$
67,751
|
|
$
55,742
|
|
|
|
|
|
|
|
|
GAAP operating
expenses
|
$
20,002
|
|
$
19,750
|
|
$
76,683
|
|
$
70,864
|
Share-based
compensation (1)
|
(634)
|
|
(706)
|
|
(2,546)
|
|
(2,813)
|
Amortization of
intangible assets (2)
|
(175)
|
|
(135)
|
|
(700)
|
|
(539)
|
Expenses
related to M&A activities (3)
|
(93)
|
|
(178)
|
|
(394)
|
|
(267)
|
Restructuring
expenses (4)
|
(62)
|
|
(200)
|
|
(62)
|
|
(1,464)
|
Changes in tax
related items (5)
|
(40)
|
|
(1,416)
|
|
(420)
|
|
(1,416)
|
Non-GAAP
operating expenses
|
$
18,998
|
|
$
17,115
|
|
$
72,561
|
|
$
64,365
|
|
|
|
|
|
|
|
|
GAAP financial
and other income
|
$
601
|
|
$
338
|
|
$
2,208
|
|
$
894
|
Expenses
related to M&A activities (3)
|
(75)
|
|
84
|
|
(224)
|
|
625
|
Non-GAAP
Financial and other income
|
$
526
|
|
$
422
|
|
$
1,984
|
|
$
1,519
|
|
|
|
|
|
|
|
|
GAAP taxes on
income
|
$
1,005
|
|
$
416
|
|
$
2,428
|
|
$
1,564
|
Tax expenses
(benefits) in respect of net deferred tax asset
recorded
|
(123)
|
|
214
|
|
(116)
|
|
17
|
Non-GAAP taxes
on income
|
$
882
|
|
$
630
|
|
$
2,312
|
|
$
1,581
|
|
|
|
|
|
|
|
|
GAAP Net
Loss
|
$
(1,817)
|
|
$
(4,340)
|
|
$
(10,415)
|
|
$
(18,072)
|
Share-based
compensation (1)
|
694
|
|
789
|
|
2,862
|
|
3,175
|
Amortization of
intangible assets (2)
|
408
|
|
367
|
|
1,630
|
|
1,477
|
Expenses
related to M&A activities (3)
|
18
|
|
262
|
|
170
|
|
892
|
Restructuring
expenses (4)
|
62
|
|
200
|
|
62
|
|
2,351
|
Changes in tax
related items (5)
|
57
|
|
1,472
|
|
437
|
|
1,472
|
Fair value
adjustment for acquired deferred revenues write
down
|
-
|
|
-
|
|
-
|
|
37
|
Tax benefits
(expenses) in respect of net deferred tax asset
recorded
|
123
|
|
(214)
|
|
116
|
|
(17)
|
Non-GAAP Net
Loss
|
$
(455)
|
|
$
(1,464)
|
|
$
(5,138)
|
|
$
(8,685)
|
|
|
|
|
|
|
|
|
GAAP Loss per
share (diluted)
|
$
(0.05)
|
|
$
(0.13)
|
|
$
(0.31)
|
|
$
(0.54)
|
Share-based
compensation
|
0.02
|
|
0.02
|
|
0.08
|
|
0.10
|
Amortization of
intangible assets
|
0.01
|
|
0.01
|
|
0.05
|
|
0.04
|
Expenses
related to M&A activities
|
(0.00)
|
|
0.01
|
|
0.01
|
|
0.03
|
Restructuring
expenses
|
0.00
|
|
0.01
|
|
0.00
|
|
0.07
|
Fair value
adjustment for acquired deferred revenues write
down
|
-
|
|
0.05
|
|
-
|
|
0.04
|
Changes in
taxes and headcount related items
|
0.00
|
|
0.00
|
|
0.01
|
|
0.00
|
Tax benefits
(expenses) in respect of net deferred tax asset
recorded
|
0.01
|
|
(0.01)
|
|
0.01
|
|
-
|
Non-GAAP Net
loss per share (diluted)
|
$
(0.01)
|
|
$
(0.04)
|
|
$
(0.15)
|
|
$
(0.26)
|
Weighted average
number of shares used in
computing GAAP
diluted net loss per share
|
33,860,114
|
|
33,412,701
|
|
33,710,507
|
|
33,253,158
|
Weighted average
number of shares used in
computing non-GAAP
diluted net loss per share
|
33,860,114
|
|
33,412,701
|
|
33,710,507
|
|
33,253,158
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TABLE - 2
cont.
|
ALLOT
COMMUNICATIONS LTD.
|
AND ITS
SUBSIDIARIES
|
RECONCILIATION OF
GAAP TO NON-GAAP CONSOLIDATED STATEMENTS OF
OPERATIONS
|
(U.S. dollars in
thousands, except per share data)
|
|
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Year
Ended
|
|
|
December
31,
|
|
December
31,
|
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
(1) Share-based
compensation:
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
$
60
|
|
$
83
|
|
$
316
|
|
$
362
|
|
Research and
development costs, net
|
174
|
|
155
|
|
678
|
|
608
|
|
Sales and
marketing
|
227
|
|
307
|
|
928
|
|
1,015
|
|
General and
administrative
|
233
|
|
244
|
|
940
|
|
1,190
|
|
|
$
694
|
|
$
789
|
|
$
2,862
|
|
$
3,175
|
|
|
|
|
|
|
|
|
|
(2)
Amortization of intangible assets
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
$
233
|
|
$
232
|
|
$
930
|
|
$
938
|
|
Sales and
marketing
|
175
|
|
135
|
|
700
|
|
539
|
|
|
$
408
|
|
$
367
|
|
$
1,630
|
|
$
1,477
|
|
|
|
|
|
|
|
|
|
(3) Expenses
related to M&A activities
|
|
|
|
|
|
|
|
|
General and
administrative
|
$
-
|
|
$
178
|
|
$
69
|
|
$
267
|
|
Research and
development costs, net
|
93
|
|
-
|
|
325
|
|
-
|
|
Financial expenses
(income)
|
(75)
|
|
84
|
|
(224)
|
|
625
|
|
|
$
18
|
|
$
262
|
|
$
170
|
|
$
892
|
|
|
|
|
|
|
|
|
|
(4)
Restructuring expenses
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
$
-
|
|
$
-
|
|
$
-
|
|
$
887
|
|
Research and
development costs, net
|
-
|
|
-
|
|
-
|
|
154
|
|
Sales and
marketing
|
-
|
|
-
|
|
-
|
|
976
|
|
General and
administrative
|
62
|
|
200
|
|
62
|
|
334
|
|
|
$
62
|
|
$
200
|
|
$
62
|
|
$
2,351
|
|
|
|
|
|
|
|
|
|
(5) Changes in
tax related items
|
|
|
|
|
|
|
|
|
Research and
development costs, net
|
$
-
|
|
$
201
|
|
$
-
|
|
$
201
|
|
Sales and
marketing
|
40
|
|
1,045
|
|
262
|
|
1,045
|
|
Cost of
revenues
|
17
|
|
56
|
|
17
|
|
56
|
|
General and
administrative
|
-
|
|
170
|
|
158
|
|
170
|
|
|
$
57
|
|
$
1,472
|
|
$
437
|
|
$
1,472
|
|
|
|
|
|
|
|
|
|
TABLE -
3
|
|
ALLOT
LTD.
|
|
AND ITS
SUBSIDIARIES
|
|
CONSOLIDATED
BALANCE SHEETS
|
|
(U.S. dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December
31,
|
|
December
31,
|
|
|
|
2018
|
|
2017
|
|
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
16,336
|
|
$
15,342
|
|
Short term
deposits
|
|
22,543
|
|
31,043
|
|
Restricted
deposit
|
|
465
|
|
428
|
|
Marketable
securities
|
|
64,290
|
|
63,194
|
|
Trade receivables,
net
|
|
26,093
|
|
22,737
|
|
Other receivables and
prepaid expenses
|
|
3,647
|
|
2,649
|
|
Inventories
|
|
11,345
|
|
7,897
|
|
Total current
assets
|
|
144,719
|
|
143,290
|
|
|
|
|
|
|
|
LONG-TERM
ASSETS:
|
|
|
|
|
|
Restricted
deposit
|
|
257
|
|
-
|
|
Severance pay
fund
|
|
345
|
|
302
|
|
Deferred
taxes
|
|
281
|
|
301
|
|
Other
assets
|
|
600
|
|
1,135
|
|
Total long-term
assets
|
|
1,483
|
|
1,738
|
|
|
|
|
|
|
|
PROPERTY AND
EQUIPMENT, NET
|
|
6,249
|
|
5,002
|
|
GOODWILL AND
INTANGIBLE ASSETS, NET
|
|
37,393
|
|
34,495
|
|
|
|
|
|
|
|
Total
assets
|
|
$
189,844
|
|
$
184,525
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS'
EQUITY
|
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
|
Trade
payables
|
|
$
7,813
|
|
$
5,857
|
|
Deferred
revenues
|
|
13,855
|
|
11,370
|
|
Other payables and
accrued expenses
|
|
21,052
|
|
14,277
|
|
Total current
liabilities
|
|
42,720
|
|
31,504
|
|
|
|
|
|
|
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
|
Deferred
revenues
|
|
4,247
|
|
3,878
|
|
Accrued severance
pay
|
|
806
|
|
747
|
|
Other long term
liabilities
|
|
6,168
|
|
5,267
|
|
Total long-term
liabilities
|
|
11,221
|
|
9,892
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
135,903
|
|
143,129
|
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
|
$
189,844
|
|
$
184,525
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TABLE -
4
|
ALLOT
LTD.
|
AND ITS
SUBSIDIARIES
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
(U.S. dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Year
Ended
|
|
December
31,
|
|
December
31,
|
|
2018
|
|
2017
|
|
2018
|
|
2017
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
|
|
|
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Loss
|
$
(1,817)
|
|
$
(4,340)
|
|
$
(10,415)
|
|
$
(18,072)
|
Adjustments to
reconcile net income to net cash used in operating
activities:
|
|
|
|
|
|
|
|
Depreciation
|
601
|
|
632
|
|
2,204
|
|
2,191
|
Stock-based
compensation related to options granted to employees
|
694
|
|
787
|
|
2,862
|
|
3,366
|
Amortization of
intangible assets
|
408
|
|
366
|
|
1,630
|
|
1,477
|
Capital
loss
|
-
|
|
13
|
|
39
|
|
27
|
Decrease (Increase)
in accrued severance pay, net
|
(18)
|
|
(8)
|
|
16
|
|
105
|
Decrease (Increase)
in other assets
|
83
|
|
(607)
|
|
535
|
|
1
|
Decrease in accrued
interest and amortization of premium on marketable
securities
|
193
|
|
319
|
|
805
|
|
913
|
Decrease (Increase)
in trade receivables
|
359
|
|
(86)
|
|
(3,356)
|
|
1,421
|
Decrease (Increase)
in other receivables and prepaid expenses
|
184
|
|
1,841
|
|
(1,101)
|
|
1,350
|
Decrease (Increase)
in inventories
|
607
|
|
1,214
|
|
(3,448)
|
|
(662)
|
Decrease (Increase)
in long-term deferred taxes, net
|
27
|
|
(234)
|
|
20
|
|
(34)
|
Increase (Decrease)
in trade payables
|
(4,370)
|
|
(611)
|
|
1,945
|
|
2,582
|
Increase (Decrease)
in employees and payroll accruals
|
(998)
|
|
35
|
|
(1,178)
|
|
1,140
|
Increase (Decrease)
in deferred revenues
|
1,421
|
|
(518)
|
|
3,566
|
|
518
|
Increase in other
payables and accrued expenses
|
3,383
|
|
2,288
|
|
6,906
|
|
3,449
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) operating activities
|
757
|
|
1,091
|
|
1,030
|
|
(228)
|
|
|
|
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
Increase in
restricted deposit
|
(32)
|
|
(428)
|
|
(294)
|
|
(428)
|
Redemption of
(Investment in) short-term deposits
|
1,900
|
|
(9,300)
|
|
8,500
|
|
(1,222)
|
Purchase of property
and equipment
|
(1,427)
|
|
(776)
|
|
(3,485)
|
|
(2,833)
|
Investment in
marketable securities
|
(9,584)
|
|
(10,913)
|
|
(34,777)
|
|
(30,123)
|
Proceeds from
redemption or sale of marketable securities
|
8,924
|
|
11,075
|
|
32,651
|
|
26,488
|
Acquisitions
|
-
|
|
-
|
|
(3,048)
|
|
-
|
Net cash used in
investing activities
|
(219)
|
|
(10,342)
|
|
(453)
|
|
(8,118)
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercise of employee
stock options
|
74
|
|
265
|
|
417
|
|
362
|
|
|
|
|
|
|
|
|
Net cash provided by
financing activities
|
74
|
|
265
|
|
417
|
|
362
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (Decrease)
in cash and cash equivalents
|
612
|
|
(8,986)
|
|
994
|
|
(7,984)
|
Cash and cash
equivalents at the beginning of the period
|
15,724
|
|
24,328
|
|
15,342
|
|
23,326
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents at the end of the period
|
$
16,336
|
|
$
15,342
|
|
$
16,336
|
|
$
15,342
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investor Relations Contact:
GK Investor Relations
Ehud Helft/Gavriel Frohwein
+1-646-688-3559
allot@gkir.com
Public Relations Contact:
Jodi Joseph Asiag
Director of Corporate Communications
jasiag@allot.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/allot-announces-fourth-quarter-and-full-year-2018-financial-results-300789711.html
SOURCE Allot Communications Ltd.