Allot Communications (ALLT) Misses Q4 EPS by 2c, Slight Beat on Revenues

Allot Communications (NASDAQ: ALLT) reported Q4 EPS of ($0.04), $0.02 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $23.2 million versus the consensus estimate of $22.94 million.

Q4 2017 Financial Results Summary

• Total revenues for the fourth quarter of 2017 were $23.2 million, up 11% compared to $20.9 million in the third quarter of 2017.
• Net loss on a GAAP basis for the fourth quarter of 2017 was $4.3 million, or $0.13 per basic share, compared with a net loss of $4.6 million, or $0.14 per basic share, in the prior quarter. During the fourth quarter of 2017, the Company incurred one-time non-cash charges of $1.5 million in connection to changes in tax related items.
• Non-GAAP net loss for the fourth quarter of 2017 was $1.5 million, or $0.04 per basic share, compared with a non-GAAP net loss of $1.3 million, or $0.04 per basic share, in the prior quarter.
• Cash and investments as of December 31, 2017 totaled $110.0 million. The Company recorded positive operating cash flow of $1.1 million during the fourth quarter of 2017.

Q4 2017 – Financial Highlights

• Revenues were $23.2 million;
• GAAP gross margin was 67%; Non-GAAP gross margin was 68%;
• GAAP operating loss of $4.3 million; Non-GAAP operating loss of $1.3 million;
• Book-to-bill above one for the fourth consecutive quarter

2017 – Financial Highlights

• Revenues were $82.0 million;
• GAAP gross margin was 65%; Non-GAAP gross margin was 68%;
• GAAP operating loss of $17.4 million; Non-GAAP operating loss of $8.6 million;
• Security revenues in 2017 grew 42% to $24.2 million compared to 2016;
• Backlog grew by $13.3 million compared to year-end 2016

Financial outlook:

• Management expects 2018 revenues to grow to between $91-$95 million with the second half of the year stronger than the first half, reflecting typical seasonality;
• 2018 Book to Bill expected at above 1;
• Security revenues expected to continue to grow year-over-year, generating most of the expected growth in 2018

For earnings history and earnings-related data on Allot Communications (ALLT) click here.

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