Allot Ltd (NASDAQ:ALLT) (TASE:ALLT), the security and smart network intelligence solutions company, posted second-quarter earnings and revenue on Tuesday that beat Wall Street expectations.
For the quarter ended June 2019, Allot posted a loss of $0.04 per share, above the consensus estimate for a loss of $0.06 per share, as revenue grew by 15% to $26.6 million, compared to $23 million in the same quarter of the previous year.
Erez Antebi, CEO of Allot, commented: "We are pleased with our ongoing year-over-year growth in revenue and we remain on target with our strategy and longer-term goals.”
Antebi reveled that the company’s pipeline “remains strong” and it is actively working to close more deals in the coming months, both in the “visibility and control, as well as in the security” areas.
“We look forward to continued and sustainable growth for the remainder of this year and beyond," Antebi added.
Financial outlook
Allot's management said it continues to maintain its 2019 expectations for yearly revenue of between $106 million to $110 million, representing continued double-digit year-over-year growth.
The company added that its management continues to a expect full year 2019 book to bill ratio of above 1.
The company said cash and investments as of June 30 totaled $101.6 million, compared to $101.5 million in March.
Allot is a provider of network intelligence and security solutions for service providers worldwide. Its solutions are deployed for network and application analytics, traffic control and shaping, and network-based security services. The company’s multi-service platforms is used by over 500 mobile, fixed and cloud service providers and more than 1000 enterprises.
Allot NetworkSecure is the world’s largest deployed network-based security service for the mass market with over 20 million paying security customers.
—Adds cash—
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