HOD HASHARON, Israel,
Feb. 7, 2017 /PRNewswire/
-- Allot Communications Ltd. (NASDAQ: ALLT, TASE: ALLT),
a leading global provider of security and monetization solutions
that enables service providers and enterprises to protect and
personalize the digital experience, today announced its fourth
quarter and year end 2016 financial results.
Q4 2016 – Financial Highlights
- GAAP and non-GAAP Revenues were $23.5M;
- GAAP gross margin was 69%, Non-GAAP gross margin was 71%;
- GAAP operating profit of $1.3M,
Non-GAAP operating profit of $1.8M;
Book-to-bill below one;
2016 – Financial Highlights
- GAAP Revenues were $90.4M,
Non-GAAP Revenues were $90.5M;
- GAAP gross margin was 69%, Non-GAAP gross margin was 71%;
- GAAP operating loss of $6.8M,
Non-GAAP operating profit of $0.4M;
- Book-to-bill below one;
Management Comment
Erez Antebi, President &
CEO of Allot Communications, commented, "In my first days with
Allot, I am impressed with much of what I see, most notably the
quality and professionalism of the people. I believe the
combination Allot has of the right products and technology, the
right people and the large customer base is a strong foundation on
which we can build Allot's growth."
Mr. Antebi, continued, "A significant part of the
role of the new management team will be to improve on the company's
execution and to realize its full potential, and I look forward to
working with the team and taking the company to the next
level."
Q4 2016 Financial results
On a GAAP basis, total revenues for the fourth quarter of 2016
were $23.5 million compared to
$25.4 million reported for the fourth
quarter of 2015. Net profit for the fourth quarter of 2016 was
$0.9 million, or $0.03 per basic and diluted share. This compares
with a net loss of $10.4 million, or
$0.31 per basic and diluted share, in
the fourth quarter of 2015.
On a non-GAAP basis, total revenues for the fourth quarter of
2016 were $23.5 million compared to
$25.7 million reported for the fourth
quarter of 2015. On a non-GAAP basis, net profit for the fourth
quarter of 2016 was $1.2 million, or
$0.03 per basic and diluted share.
This compares with non-GAAP net profit of $0.7 million, or $0.02 per basic and diluted share, in the fourth
quarter of 2015.
Net cash and cash equivalents as of December 31, 2016 totaled $113.7 million. The Company recorded positive
operating cash flow of $4.2 million
during the quarter. During the fourth quarter of 2016, cash used
for the repurchase of the Company's shares in the market totaled
$0.5 million.
2016 Financial results
On a GAAP basis, total revenues for the full year of 2016 were
$90.4 million compared to
$100.0 million in 2015. Net loss for
the full year of 2016 was $8.0
million, or $0.24 per basic
and diluted share. This compares with a net loss of $19.8 million, or $0.59 per basic and diluted share, in 2015.
On a non-GAAP basis, total revenues for the full year of 2016
were $90.5 million compared to
$100.3 million in 2015. On a non-GAAP
basis, net loss for the full year of 2016 was $0.7 million, or $0.02 per basic and diluted share. This compares
with non-GAAP net loss of $0.1
million, or $0.00 per basic
and diluted share, in 2015.
During the year of 2016, the Company recorded negative operating
cash flow of $3.4 million and cash
used for the repurchase of the Company's shares in the market
totaled $3.8 million.
2017 Outlook
Management expects 2017 revenues in the range of $80 - $84 million. The second half of 2017
is expected to be better than the first half and the book to bill
ratio for the year is expected to be above 1.
Conference Call & Webcast:
The Allot management team will host a conference call to discuss
fourth quarter and year end 2016 earnings results today,
February 7, 2017 at 8:30 AM ET, 3:30
p.m. Israel time. To access
the conference call, please dial one of the following numbers:
US: +1-347-293-1926, UK: +44(0) 20-3514-1906, Israel: +972-3-918-0609.
A recording of the conference call will be available from
12:00PM ET on February 7, 2017 for 30 days. To access the
recording, please dial: +1-888-269-0005; UK: +44(0)
800-917-1246.
A live webcast of the conference call can be accessed on the
Allot Communications website at: http://www.allot.com.
The webcast will also be archived on the website following the
conference call.
About Allot Communications
Allot Communications (NASDAQ: ALLT, TASE: ALLT) is a leading
provider of security and monetization solutions that enables
service providers and enterprises to protect and personalize the
digital experience. Allot's flexible and highly scalable service
delivery framework leverages the intelligence in data networks,
enabling service providers to get closer to their customers,
safeguard network assets and users, and accelerate time-to-revenue
for value-added services. We employ innovative technology, proven
know-how and a collaborative approach to provide the right solution
for every network environment. Allot solutions are currently
deployed at 5 of the top 10 global mobile operators and in
thousands of CSP and enterprise networks worldwide. For more
information, please 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 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
are 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 third 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
COMMUNICATIONS 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,
|
|
2016
|
|
2015
|
|
|
2016
|
|
2015
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
|
|
|
|
|
|
Revenues
|
$
23,487
|
|
$
25,382
|
|
|
$
90,369
|
|
$
99,967
|
|
Cost of
revenues
|
7,348
|
|
13,185
|
|
|
27,895
|
|
33,427
|
|
Gross
profit
|
16,139
|
|
12,197
|
|
|
62,474
|
|
66,540
|
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
|
Research and
development costs, net
|
5,461
|
|
6,476
|
|
|
24,221
|
|
26,422
|
|
Sales and
marketing
|
7,476
|
|
10,142
|
|
|
35,290
|
|
43,318
|
|
General and
administrative
|
1,910
|
|
3,209
|
|
|
9,812
|
|
12,702
|
|
Total operating
expenses
|
14,847
|
|
19,827
|
|
|
69,323
|
|
82,442
|
|
Operating profit
(loss)
|
1,292
|
|
(7,630)
|
|
|
(6,849)
|
|
(15,902)
|
|
Financial and other
income (loss), net
|
423
|
|
232
|
|
|
1,059
|
|
(584)
|
|
Profit (loss) before
income tax expenses
|
1,715
|
|
(7,398)
|
|
|
(5,790)
|
|
(16,486)
|
|
|
|
|
|
|
|
|
|
|
Tax
expenses
|
773
|
|
2,982
|
|
|
2,204
|
|
3,356
|
|
Net profit
(loss)
|
942
|
|
(10,380)
|
|
|
(7,994)
|
|
(19,842)
|
|
|
|
|
|
|
|
|
|
|
Basic net
profit (loss) per share
|
$
0.03
|
|
$
(0.31)
|
|
|
$
(0.24)
|
|
$
(0.59)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net
profit (loss) per share
|
$
0.03
|
|
$
(0.31)
|
|
|
$
(0.24)
|
|
$
(0.59)
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
|
used in computing
basic net
|
|
|
|
|
|
|
|
|
|
earnings per
share
|
33,090,708
|
|
33,559,698
|
|
|
33,202,309
|
|
33,419,917
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares
|
|
|
|
|
|
|
|
|
|
used in computing
diluted net
|
|
|
|
|
|
|
|
|
|
earnings per
share
|
33,415,193
|
|
33,559,698
|
|
|
33,202,309
|
|
33,419,917
|
|
|
|
|
|
|
|
|
|
|
TABLE -
2
|
|
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,
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
|
|
|
|
|
|
GAAP
Revenues
|
$
23,487
|
|
$
25,382
|
|
$
90,369
|
|
$
99,967
|
|
Fair value
adjustment for acquired deferred revenues write
down
|
31
|
|
271
|
|
165
|
|
304
|
|
Non-GAAP
Revenues
|
$
23,518
|
|
$
25,653
|
|
$
90,534
|
|
$
100,271
|
|
|
|
|
|
|
|
|
|
|
GAAP cost of
revenue
|
$
7,348
|
|
$
13,185
|
|
$
27,895
|
|
$
33,427
|
|
Share-based
compensation (1)
|
(109)
|
|
(79)
|
|
(345)
|
|
(324)
|
|
Amortization of
intangible assets (2)
|
(367)
|
|
(6,373)
|
|
(1,173)
|
|
(8,075)
|
|
Restructuring
expenses (4)
|
-
|
|
-
|
|
(127)
|
|
-
|
|
Non-GAAP cost of
revenue
|
$
6,872
|
|
$
6,733
|
|
$
26,250
|
|
$
25,028
|
|
|
|
|
|
|
|
|
|
|
GAAP gross
profit
|
$
16,139
|
|
$
12,197
|
|
$
62,474
|
|
$
66,540
|
|
Gross profit
adjustments
|
507
|
|
6,723
|
|
1,810
|
|
8,703
|
|
Non-GAAP gross
profit
|
$
16,646
|
|
$
18,920
|
|
$
64,284
|
|
$
75,243
|
|
|
|
|
|
|
|
|
|
|
GAAP operating
expenses
|
$
14,847
|
|
$
19,827
|
|
$
69,323
|
|
$
82,442
|
|
Share-based
compensation (1)
|
(845)
|
|
(1,545)
|
|
(4,667)
|
|
(6,846)
|
|
Amortization of
intangible assets (2)
|
(132)
|
|
(284)
|
|
(535)
|
|
(658)
|
|
Expenses
related to M&A activities (3)
|
962
|
|
-
|
|
962
|
|
(678)
|
|
Restructuring
expenses (4)
|
-
|
|
-
|
|
(1,163)
|
|
-
|
|
Non-GAAP
operating expenses
|
$
14,832
|
|
$
17,998
|
|
$
63,920
|
|
$
74,260
|
|
|
|
|
|
|
|
|
|
|
GAAP financial
and other income (loss)
|
$
423
|
|
$
232
|
|
$
1,059
|
|
$
(584)
|
|
Expenses
related to M&A activities (3)
|
(348)
|
|
(89)
|
|
(179)
|
|
193
|
|
Non-GAAP
Financial and other income (loss)
|
$
75
|
|
$
143
|
|
$
880
|
|
$
(391)
|
|
|
|
|
|
|
|
|
|
|
GAAP taxes on
income
|
$
773
|
|
$
2,982
|
|
$
2,204
|
|
$
3,356
|
|
Tax expenses
(in respect of net deferred tax asset recorded)
|
(36)
|
|
(2,628)
|
|
(230)
|
|
(2,628)
|
|
Non-GAAP taxes
on income
|
$
737
|
|
$
354
|
|
$
1,974
|
|
$
728
|
|
|
|
|
|
|
|
|
|
|
GAAP Net income
(loss)
|
$
942
|
|
$
(10,380)
|
|
$
(7,994)
|
|
$
(19,842)
|
|
Share-based
compensation (1)
|
954
|
|
1,624
|
|
5,012
|
|
7,170
|
|
Amortization of
intangible assets (2)
|
499
|
|
6,657
|
|
1,708
|
|
8,733
|
|
Expenses
related to M&A activities (3)
|
(1,310)
|
|
(89)
|
|
(1,141)
|
|
871
|
|
Restructuring
expenses (4)
|
-
|
|
-
|
|
1,290
|
|
-
|
|
Fair value
adjustment for acquired deferred revenues write
down
|
31
|
|
271
|
|
165
|
|
304
|
|
Tax expenses
(in respect of net deferred tax asset recorded)
|
36
|
|
2,628
|
|
230
|
|
2,628
|
|
Non-GAAP Net
income (loss)
|
$
1,152
|
|
$
711
|
|
$
(730)
|
|
$
(136)
|
|
|
|
|
|
|
|
|
|
|
GAAP Loss per
share (diluted)
|
$
0.03
|
|
$
(0.31)
|
|
$
(0.24)
|
|
$
(0.59)
|
|
Share-based
compensation
|
0.03
|
|
0.05
|
|
0.15
|
|
0.21
|
|
Amortization of
intangible assets
|
0.01
|
|
0.20
|
|
0.05
|
|
0.26
|
|
Expenses
related to M&A activities
|
(0.04)
|
|
0.00
|
|
(0.03)
|
|
0.03
|
|
Restructuring
expenses
|
-
|
|
-
|
|
0.04
|
|
-
|
|
Fair value
adjustment for acquired deferred revenues write
down
|
0.00
|
|
0.01
|
|
0.00
|
|
0.02
|
|
Tax expenses
(in respect of net deferred tax asset recorded)
|
0.00
|
|
0.07
|
|
0.01
|
|
0.07
|
|
Non-GAAP Net
income (Loss) per share (diluted)
|
$
0.03
|
|
$
0.02
|
|
$
(0.02)
|
|
$
(0.00)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in
|
|
|
|
|
|
|
|
|
computing GAAP
diluted net earnings per share
|
33,415,193
|
|
33,559,698
|
|
33,202,309
|
|
33,419,917
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in
|
|
|
|
|
|
|
|
|
computing non-GAAP
diluted net earnings per share
|
33,697,889
|
|
33,829,088
|
|
33,202,309
|
|
34,013,721
|
|
|
|
|
|
|
|
|
|
|
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,
|
|
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
|
|
|
|
|
|
|
|
(1) Share-based
compensation (*):
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
$
109
|
|
$
79
|
|
$
345
|
|
$
324
|
|
|
Research and
development costs, net
|
244
|
|
366
|
|
1,223
|
|
1,637
|
|
|
Sales and
marketing
|
322
|
|
631
|
|
1,745
|
|
2,802
|
|
|
General and
administrative
|
279
|
|
548
|
|
1,699
|
|
2,407
|
|
|
|
$
954
|
|
$
1,624
|
|
$
5,012
|
|
$
7,170
|
|
|
|
|
|
|
|
|
|
|
|
|
(2)
Amortization of intangible assets
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
$
367
|
|
$
6,373
|
|
$
1,173
|
|
$
8,075
|
|
|
Sales and
marketing
|
132
|
|
284
|
|
535
|
|
658
|
|
|
|
$
499
|
|
$
6,657
|
|
$
1,708
|
|
$
8,733
|
|
|
|
|
|
|
|
|
|
|
|
|
(3) Expenses
related to M&A activities
|
|
|
|
|
|
|
|
|
|
General and
administrative
|
$
(962)
|
|
$
-
|
|
$
(962)
|
|
$
452
|
|
|
Research and
development costs, net
|
-
|
|
-
|
|
-
|
|
45
|
|
|
Sales and
marketing
|
-
|
|
-
|
|
-
|
|
181
|
|
|
Financial
expenses
|
(348)
|
|
(89)
|
|
(179)
|
|
193
|
|
|
|
$
(1,310)
|
|
$
(89)
|
|
$
(1,141)
|
|
$
871
|
|
|
|
|
|
|
|
|
|
|
|
|
(4)
Restructuring expenses
|
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
$
-
|
|
$
-
|
|
$
127
|
|
$
-
|
|
|
Research and
development costs, net
|
-
|
|
-
|
|
370
|
|
-
|
|
|
Sales and
marketing
|
-
|
|
-
|
|
720
|
|
-
|
|
|
General and
administrative
|
-
|
|
-
|
|
73
|
|
-
|
|
|
|
$
-
|
|
$
-
|
|
$
1,290
|
|
$
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(*) Excluding
share-based compensation related to the restructuring plan, which
was already included under restructuring expenses.
|
|
|
|
|
|
|
|
|
|
|
|
TABLE -
3
|
|
ALLOT
COMMUNICATIONS LTD.
|
|
AND ITS
SUBSIDIARIES
|
|
CONSOLIDATED
BALANCE SHEETS
|
|
(U.S. dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
December
31,
|
|
December
31,
|
|
|
2016
|
|
2015
|
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
ASSETS
|
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
23,326
|
|
$
15,470
|
|
Short term
deposits
|
|
29,821
|
|
42,700
|
|
Restricted
cash
|
|
0
|
|
203
|
|
Marketable
securities
|
|
60,507
|
|
64,921
|
|
Trade receivables,
net
|
|
24,158
|
|
23,874
|
|
Other receivables and
prepaid expenses
|
|
3,750
|
|
4,513
|
|
Inventories
|
|
7,235
|
|
10,169
|
|
Total current
assets
|
|
148,797
|
|
161,850
|
|
|
|
|
|
|
LONG-TERM
ASSETS:
|
|
|
|
|
|
Severance pay
fund
|
|
252
|
|
282
|
|
Deferred
taxes
|
|
267
|
|
501
|
|
Other
assets
|
|
1,136
|
|
2,712
|
|
Total long-term
assets
|
|
1,655
|
|
3,495
|
|
|
|
|
|
|
PROPERTY AND
EQUIPMENT, NET
|
|
4,387
|
|
5,189
|
|
GOODWILL AND
INTANGIBLE ASSETS, NET
|
|
35,972
|
|
37,681
|
|
|
|
|
|
|
Total
assets
|
|
$
190,811
|
|
$
208,215
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
|
Trade
payables
|
|
$
3,275
|
|
$
7,107
|
|
Deferred
revenues
|
|
11,133
|
|
14,066
|
|
Other payables and
accrued expenses
|
|
10,538
|
|
13,921
|
|
Total current
liabilities
|
|
24,946
|
|
35,094
|
|
|
|
|
|
|
LONG-TERM
LIABILITIES:
|
|
|
|
|
|
Deferred
revenues
|
|
3,597
|
|
4,912
|
|
Accrued severance
pay
|
|
592
|
|
651
|
|
Other long term
liabilities
|
|
4,502
|
|
4,153
|
|
Total long-term
liabilities
|
|
8,691
|
|
9,716
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
|
157,174
|
|
163,405
|
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
|
$
190,811
|
|
$
208,215
|
|
|
|
|
|
|
TABLE -
4
|
|
ALLOT
COMMUNICATIONS LTD.
|
|
AND ITS
SUBSIDIARIES
|
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
|
(U.S. dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Year ended
Ended
|
|
December
31,
|
|
December
31,
|
|
2016
|
|
2015
|
|
2016
|
|
2015
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
|
|
|
|
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
(Loss)
|
$
942
|
|
$
(10,380)
|
|
$
(7,994)
|
|
$
(19,842)
|
|
Adjustments to
reconcile net income to net cash provided by operating
activities:
|
|
|
|
|
|
|
|
|
Depreciation
|
569
|
|
631
|
|
2,334
|
|
2,752
|
|
Stock-based
compensation related to options granted to employees
|
1,005
|
|
1,628
|
|
5,181
|
|
7,170
|
|
Amortization of
intangible assets
|
499
|
|
6,658
|
|
1,709
|
|
8,733
|
|
Capital
loss
|
4
|
|
190
|
|
24
|
|
328
|
|
Decrease (Increase)
in accrued severance pay, net
|
(4)
|
|
197
|
|
(29)
|
|
349
|
|
Decrease in other
assets
|
828
|
|
1,237
|
|
1,575
|
|
1,205
|
|
Decrease in accrued
interest and amortization of premium on marketable
securities
|
215
|
|
253
|
|
1,238
|
|
967
|
|
Decrease (Increase)
in trade receivables
|
2,795
|
|
(872)
|
|
(284)
|
|
(847)
|
|
Decrease (Increase)
in other receivables and prepaid expenses
|
206
|
|
(2,092)
|
|
699
|
|
(2,623)
|
|
Decrease (Increase)
in inventories
|
1,410
|
|
(120)
|
|
2,934
|
|
(60)
|
|
Decrease in long-term
deferred taxes, net
|
49
|
|
1,543
|
|
234
|
|
1,403
|
|
Increase (Decrease)
in trade payables
|
302
|
|
1,532
|
|
(3,832)
|
|
2,218
|
|
Increase (Decrease)
in employees and payroll accruals
|
(241)
|
|
1,819
|
|
(851)
|
|
901
|
|
Increase (Decrease)
in deferred revenues
|
(2,664)
|
|
313
|
|
(4,248)
|
|
1,961
|
|
Decrease in other
payables and accrued expenses
|
(1,719)
|
|
(1,000)
|
|
(2,156)
|
|
(429)
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) operating activities
|
4,196
|
|
1,537
|
|
(3,466)
|
|
4,186
|
|
|
|
|
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Redemption of
(Investment in) restricted cash
|
-
|
|
(203)
|
|
203
|
|
(203)
|
|
Redemption of
(Investment in) short-term deposits
|
(2,502)
|
|
(5,950)
|
|
12,879
|
|
16,300
|
|
Purchase of property
and equipment
|
(398)
|
|
(617)
|
|
(1,582)
|
|
(2,223)
|
|
Proceeds from sale of
property and equipment
|
26
|
|
-
|
|
26
|
|
-
|
|
Investment in
marketable securities
|
(7,598)
|
|
(13,286)
|
|
(28,695)
|
|
(34,098)
|
|
Proceeds from
redemption or sale of marketable securities
|
10,403
|
|
5,822
|
|
32,208
|
|
22,221
|
|
Acquisitions
|
-
|
|
193
|
|
-
|
|
(9,859)
|
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) investing activities
|
(69)
|
|
(14,041)
|
|
15,039
|
|
(7,862)
|
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercise of employee
stock options
|
20
|
|
28
|
|
115
|
|
132
|
|
Purchase of treasury
stocks
|
(506)
|
|
(166)
|
|
(3,832)
|
|
(166)
|
|
|
|
|
|
|
|
|
|
Net cash provided by
financing activities
|
(486)
|
|
(138)
|
|
(3,717)
|
|
(34)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (Decrease)
in cash and cash equivalents
|
3,641
|
|
(12,642)
|
|
7,856
|
|
(3,710)
|
|
Cash and cash
equivalents at the beginning of the period
|
19,685
|
|
28,112
|
|
15,470
|
|
19,180
|
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents at the end of the period
|
$
23,326
|
|
$
15,470
|
|
$
23,326
|
|
$
15,470
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investor Relations Contact:
GK Investor Relations
Ehud Helft/Gavriel Frohwein
+1 646-688-3559
allot@gkir.com
Public Relations Contact:
Sigalit Orr
Director Corporate Communications
International dialing +972-54-268-1500
sorr@allot.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/allot-communications-announces-fourth-quarter-and-full-year-2016-financial-results-300403232.html
SOURCE Allot Communications Ltd.