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NEW YORK (AP) — Radware's fourth-quarter net income increased 38 percent as demand improved for its computing services.
The Israeli technology company earned $9.1 million, or 39 cents per share, for the three months ended Dec. 31. That compares with $6.6 million, or 29 cents per share, in the prior-year period.
Excluding stock-based compensation expense and other items, earnings were 48 cents per share.
This met the expectations of analysts polled by FactSet.
Revenue rose 10 percent to $49.8 million from $45.1 million. Wall Street forecast revenue of $50.1 million.
"The transition to virtual data center architectures, private and public cloud build-outs, the explosion of mobile data, as well as surge in cyber security attacks led the demand for our application delivery and attack mitigation solutions," President and CEO Roy Zisapel said in a statement on Tuesday.
For the year, Radware Ltd. earned $31.8 million, or $1.36 per share. A year earlier it earned $21.3 million, or 93 cents per share. Annual revenue climbed 13 percent to $189.2 million from $167 million.
Its shares finished at $36.22 on Monday. They have traded in a 52-week range of $26.76 to $40.83.