HOD HASHARON, Israel,
Feb. 6, 2018 /PRNewswire/ -- Allot Communications 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 year
end 2017 financial results.
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
Management Comment
Erez Antebi, President &
CEO of Allot Communications, commented:
"In 2017 we made significant progress implementing our strategy
to transform Allot into a security company and improve on our
execution. I am pleased with the progress we have made this
year, as evidenced by the ongoing growth throughout the year as
well as the strong increase in security revenues and backlog.
Several weeks ago, we acquired Netonomy, a technology company
developing Home Router security software, and we are pleased to be
adding this important element to the Allot Secure platform. I
look forward to continuing the strong growth of the Company as a
whole, and more specifically, the security offering in 2018 and
beyond."
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.
2017 Financial Results Summary
Total revenues for the full year of 2017 were $82.0 million, a decrease of 9% compared to
$90.4 million in the prior year.
Net loss on a GAAP basis for the full year of 2017 was
$18.1 million, or $0.54 per basic share, compared with a net loss
of $8.0 million, or $0.24 per basic share, in the prior year. During
2017, the Company incurred a cost of $2.4
million related to its restructuring activities and one-time
non-cash charges of $1.5 million
in connection to changes in tax related items.
Non-GAAP net loss for the full year of 2017 was $8.7 million, or $0.26 per basic share, compared with a non-GAAP
net loss of $0.7 million, or
$0.02 per basic share, in the prior
year.
The Company recorded a negative operating cash flow of
$0.2 million during 2017.
Conference Call & Webcast:
The Allot management team will host a conference call to discuss
fourth quarter 2017 earnings results today, February 6, 2018 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: +44(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 Communications
website at: http://investors.allot.com/index.cfm
About Allot Communications
Allot Communications Ltd. (NASDAQ, 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 18 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
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,
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
|
|
|
|
Revenues
|
$ 23,198
|
|
$ 23,487
|
|
$ 81,992
|
|
$ 90,369
|
Cost of
revenues
|
7,710
|
|
7,348
|
|
28,530
|
|
27,895
|
Gross
profit
|
15,488
|
|
16,139
|
|
53,462
|
|
62,474
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
Research and
development costs, net
|
5,753
|
|
5,461
|
|
21,852
|
|
24,221
|
Sales and
marketing
|
10,810
|
|
7,476
|
|
38,316
|
|
35,290
|
General and
administrative
|
3,187
|
|
1,910
|
|
10,696
|
|
9,812
|
Total operating
expenses
|
19,750
|
|
14,847
|
|
70,864
|
|
69,323
|
Operating income
(loss)
|
(4,262)
|
|
1,292
|
|
(17,402)
|
|
(6,849)
|
Financial and other
income, net
|
338
|
|
423
|
|
894
|
|
1,059
|
Profit (loss) before
income tax expenses
|
(3,924)
|
|
1,715
|
|
(16,508)
|
|
(5,790)
|
|
|
|
|
|
|
|
|
Tax
expenses
|
416
|
|
773
|
|
1,564
|
|
2,204
|
Net income
(loss)
|
(4,340)
|
|
942
|
|
(18,072)
|
|
(7,994)
|
|
|
|
|
|
|
|
|
Basic net income
(loss) per share
|
$ (0.13)
|
|
$ 0.03
|
|
$ (0.54)
|
|
$ (0.24)
|
|
|
|
|
|
|
|
|
Diluted net income
(loss) per share
|
$ (0.13)
|
|
$ 0.03
|
|
$ (0.54)
|
|
$ (0.24)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in
computing basic net
loss per share
|
33,412,701
|
|
33,090,708
|
|
33,253,158
|
|
33,202,309
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in
computing diluted net
loss per share
|
33,412,701
|
|
33,415,193
|
|
33,253,158
|
|
33,202,309
|
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,
|
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
GAAP
Revenues
|
$
23,198
|
|
$
23,487
|
|
$
81,992
|
|
$
90,369
|
Fair value
adjustment for acquired
deferred revenues write down
|
-
|
|
31
|
|
37
|
|
165
|
Non-GAAP
Revenues
|
$
23,198
|
|
$
23,518
|
|
$
82,029
|
|
$
90,534
|
|
|
|
|
|
|
|
|
|
GAAP cost of
revenues
|
$
7,710
|
|
$
7,348
|
|
$
28,530
|
|
$
27,895
|
Share-based
compensation (1)
|
(83)
|
|
(109)
|
|
(362)
|
|
(345)
|
Amortization of
intangible assets (2)
|
(232)
|
|
(367)
|
|
(938)
|
|
(1,173)
|
Restructuring
expenses (4)
|
-
|
|
-
|
|
(887)
|
|
(127)
|
Changes in taxes
related items (5)
|
(56)
|
|
-
|
|
(56)
|
|
-
|
Non-GAAP cost of
revenues
|
$
7,339
|
|
$
6,872
|
|
$
26,287
|
|
$
26,250
|
|
|
|
|
|
|
|
|
|
GAAP gross
profit
|
$
15,488
|
|
$
16,139
|
|
$
53,462
|
|
$
62,474
|
Gross profit
adjustments
|
$
372
|
|
507
|
|
2,280
|
|
1,810
|
Non-GAAP gross
profit
|
$
15,860
|
|
$
16,646
|
|
$
55,742
|
|
$
64,284
|
|
|
|
|
|
|
|
|
|
GAAP operating
expenses
|
$
19,750
|
|
$
14,847
|
|
$
70,864
|
|
$
69,323
|
Share-based
compensation (1)
|
(706)
|
|
(845)
|
|
(2,813)
|
|
(4,667)
|
Amortization of
intangible assets (2)
|
(135)
|
|
(132)
|
|
(539)
|
|
(535)
|
Expenses
related to M&A activities (3)
|
(178)
|
|
962
|
|
(267)
|
|
962
|
Restructuring
expenses (4)
|
(200)
|
|
-
|
|
(1,464)
|
|
(1,163)
|
Changes in taxes
related items (5)
|
(1,416)
|
|
-
|
|
(1,416)
|
|
-
|
Non-GAAP
operating expenses
|
$
17,115
|
|
$
14,832
|
|
$
64,365
|
|
$
63,920
|
|
|
|
|
|
|
|
|
|
GAAP financial
and other income
|
$
338
|
|
$
423
|
|
$
894
|
|
$
1,059
|
Expenses
related to M&A activities (3)
|
84
|
|
(348)
|
|
625
|
|
(179)
|
Non-GAAP
Financial and other income
|
$
422
|
|
$
75
|
|
$
1,519
|
|
$
880
|
|
|
|
|
|
|
|
|
|
GAAP taxes on
income
|
$
416
|
|
$
773
|
|
$
1,564
|
|
$
2,204
|
Tax expenses
(in respect of net
deferred tax asset recorded)
|
214
|
|
(36)
|
|
17
|
|
(230)
|
Non-GAAP taxes
on income
|
$
630
|
|
$
737
|
|
$
1,581
|
|
$
1,974
|
|
|
|
|
|
|
|
|
|
GAAP Net Income
(Loss)
|
$
(4,340)
|
|
$
942
|
|
$
(18,072)
|
|
$
(7,994)
|
Share-based
compensation (1)
|
789
|
|
954
|
|
3,175
|
|
5,012
|
Amortization of
intangible assets (2)
|
367
|
|
499
|
|
1,477
|
|
1,708
|
Expenses
(Income) related to M&A activities (3)
|
262
|
|
(1,310)
|
|
892
|
|
(1,141)
|
Restructuring
expenses (4)
|
200
|
|
-
|
|
2,351
|
|
1,290
|
Changes in taxes
related items (5)
|
1,472
|
|
-
|
|
1,472
|
|
-
|
Fair value
adjustment for acquired deferred
revenues write down
|
-
|
|
31
|
|
37
|
|
165
|
Tax income
(expenses) in respect of net
deferred tax asset recorded
|
(214)
|
|
36
|
|
(17)
|
|
230
|
Non-GAAP Net
income (Loss)
|
$
(1,464)
|
|
$
1,152
|
|
$
(8,685)
|
|
$
(730)
|
|
|
|
|
|
|
|
|
|
GAAP Loss per
share (diluted)
|
$
(0.13)
|
|
$
0.03
|
|
$
(0.54)
|
|
$
(0.24)
|
Share-based
compensation
|
0.02
|
|
0.03
|
|
0.10
|
|
0.15
|
Amortization of
intangible assets
|
0.01
|
|
0.01
|
|
0.04
|
|
0.05
|
Expenses
related to M&A activities
|
0.01
|
|
(0.04)
|
|
0.03
|
|
(0.03)
|
Restructuring
expenses
|
0.01
|
|
-
|
|
0.07
|
|
0.04
|
Changes in
taxes and headcount related items
|
0.05
|
|
0.00
|
|
0.04
|
|
0.00
|
Tax expenses
(in respect of net deferred
tax asset recorded)
|
(0.01)
|
|
0.00
|
|
0.00
|
|
0.01
|
Non-GAAP Net
loss per share (diluted)
|
$
(0.04)
|
|
$
0.03
|
|
$
(0.26)
|
|
$
(0.02)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in
|
|
|
|
|
|
|
|
computing GAAP
diluted net earnings per share
|
33,412,701
|
|
33,415,193
|
|
33,253,158
|
|
33,202,309
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
number of shares used in
|
|
|
|
|
|
|
|
computing non-GAAP
diluted net earnings per share
|
33,412,701
|
|
33,697,889
|
|
33,253,158
|
|
33,202,309
|
|
|
|
|
|
|
|
|
|
|
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,
|
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
|
(Unaudited)
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
(1) Share-based
compensation (*):
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
$
83
|
|
$
109
|
|
$
362
|
|
$
345
|
|
Research and
development costs, net
|
155
|
|
244
|
|
608
|
|
1,223
|
|
Sales and
marketing
|
307
|
|
322
|
|
1,015
|
|
1,745
|
|
General and
administrative
|
244
|
|
279
|
|
1,190
|
|
1,699
|
|
|
$
789
|
|
$
954
|
|
$
3,175
|
|
$
5,012
|
|
|
|
|
|
|
|
|
|
(2) Amortization of
intangible assets
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
$
232
|
|
$
367
|
|
$
938
|
|
$
1,173
|
|
Sales and
marketing
|
135
|
|
132
|
|
539
|
|
535
|
|
|
$
367
|
|
$
499
|
|
$
1,477
|
|
$
1,708
|
|
|
|
|
|
|
|
|
|
(3) Expenses related
to M&A activities
|
|
|
|
|
|
|
|
|
General and
administrative
|
$
178
|
|
$
(962)
|
|
$
267
|
|
$
(962)
|
|
Research and
development costs, net
|
-
|
|
-
|
|
-
|
|
-
|
|
Sales and
marketing
|
-
|
|
-
|
|
-
|
|
-
|
|
Financial expenses
(income)
|
84
|
|
(348)
|
|
625
|
|
(179)
|
|
|
$
262
|
|
$ (1,310)
|
|
$
892
|
|
$
(1,141)
|
|
|
|
|
|
|
|
|
|
(4) Restructuring
expenses*
|
|
|
|
|
|
|
|
|
Cost of
revenues
|
$
-
|
|
$
-
|
|
$
887
|
|
$
127
|
|
Research and
development costs, net
|
-
|
|
-
|
|
154
|
|
370
|
|
Sales and
marketing
|
-
|
|
-
|
|
976
|
|
720
|
|
General and
administrative
|
200
|
|
-
|
|
334
|
|
73
|
|
|
$
200
|
|
$
-
|
|
$
2,351
|
|
$
1,290
|
|
|
|
|
|
|
|
|
|
(5) Changes in taxes
related items
|
|
|
|
|
|
|
|
|
Research and
development costs, net
|
$
201
|
|
$
-
|
|
$
201
|
|
$
-
|
|
Sales and
marketing
|
1,045
|
|
-
|
|
1,045
|
|
-
|
|
Cost of
revenues
|
56
|
|
-
|
|
56
|
|
-
|
|
General and
administrative
|
170
|
|
-
|
|
170
|
|
-
|
|
|
$ 1,472
|
|
$
-
|
|
$
1,472
|
|
$
-
|
|
|
|
|
|
|
|
|
|
|
(*) 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,
|
|
|
2017
|
|
2016
|
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
ASSETS
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
Cash and cash
equivalents
|
|
$
15,342
|
|
$
23,326
|
Short term
deposits
|
|
31,043
|
|
29,821
|
Restricted
deposit
|
|
428
|
|
-
|
Marketable
securities
|
|
63,194
|
|
60,507
|
Trade receivables,
net
|
|
22,737
|
|
24,158
|
Other receivables and
prepaid expenses
|
2,649
|
|
3,879
|
Inventories
|
|
7,897
|
|
7,235
|
Total current
assets
|
|
143,290
|
|
148,926
|
|
|
|
|
|
LONG-TERM
ASSETS:
|
|
|
|
|
Severance pay
fund
|
|
302
|
|
252
|
Deferred
taxes
|
|
340
|
|
267
|
Other
assets
|
|
1,096
|
|
1,136
|
Total long-term
assets
|
|
1,738
|
|
1,655
|
|
|
|
|
|
PROPERTY AND
EQUIPMENT, NET
|
5,002
|
|
4,387
|
GOODWILL AND
INTANGIBLE ASSETS, NET
|
34,495
|
|
35,972
|
|
|
|
|
|
Total
assets
|
|
$
184,525
|
|
$
190,940
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
Trade
payables
|
|
$
5,857
|
|
$
3,275
|
Deferred
revenues
|
|
11,370
|
|
11,133
|
Other payables and
accrued expenses
|
14,277
|
|
10,538
|
Liability related to
settlement of OCS grants
|
|
|
|
Total current
liabilities
|
|
31,504
|
|
24,946
|
|
|
|
|
|
LONG-TERM
LIABILITIES:
|
|
|
|
Deferred
revenues
|
|
3,878
|
|
3,597
|
Accrued severance
pay
|
|
747
|
|
592
|
Other long term
liabilities
|
|
5,267
|
|
4,502
|
Total long-term
liabilities
|
|
9,892
|
|
8,691
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY
|
143,129
|
|
157,303
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
$
184,525
|
|
$
190,940
|
TABLE -
4
|
ALLOT
COMMUNICATIONS LTD.
|
AND ITS
SUBSIDIARIES
|
CONSOLIDATED
STATEMENTS OF CASH FLOWS
|
(U.S. dollars in
thousands)
|
|
|
|
|
|
|
|
|
|
Three Months
Ended
|
|
Year
Ended
|
|
December
31,
|
December
31,
|
|
2017
|
|
2016
|
|
2017
|
|
2016
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Unaudited)
|
|
(Audited)
|
|
|
|
|
|
|
|
|
Cash flows from
operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income
(Loss)
|
$
(4,340)
|
|
$
942
|
|
$
(18,072)
|
|
$
(7,994)
|
Adjustments to
reconcile net income to net cash provided by
(used in) operating activities:
|
-
|
|
|
|
-
|
|
|
Depreciation
|
632
|
|
569
|
|
2,191
|
|
2,334
|
Stock-based
compensation related to options granted to employees
|
787
|
|
1,005
|
|
3,366
|
|
5,141
|
Amortization of
intangible assets
|
366
|
|
499
|
|
1,477
|
|
1,709
|
Capital
loss
|
13
|
|
4
|
|
27
|
|
24
|
Decrease (Increase)
in accrued severance pay, net
|
(8)
|
|
(4)
|
|
105
|
|
(29)
|
Decrease (Increase)
in other assets
|
(568)
|
|
828
|
|
40
|
|
1,576
|
Decrease in accrued
interest and amortization of premium on marketable
securities
|
319
|
|
215
|
|
913
|
|
1,238
|
Decrease (Increase)
in trade receivables
|
(86)
|
|
2,795
|
|
1,421
|
|
(284)
|
Decrease in other
receivables and prepaid expenses
|
1,841
|
|
206
|
|
1,350
|
|
699
|
Decrease (Increase)
in inventories
|
1,214
|
|
1,410
|
|
(662)
|
|
2,934
|
Decrease (Increase)
in long-term deferred taxes, net
|
(272)
|
|
49
|
|
(72)
|
|
234
|
Increase (Decrease)
in trade payables
|
(611)
|
|
302
|
|
2,582
|
|
(3,832)
|
Increase (Decrease)
in employees and payroll accruals
|
34
|
|
(241)
|
|
1,139
|
|
(811)
|
Increase (Decrease)
in deferred revenues
|
(518)
|
|
(2,664)
|
|
518
|
|
(4,248)
|
Increase (Decrease)
in other payables and accrued expenses
|
2,287
|
|
(1,719)
|
|
3,448
|
|
(2,155)
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) operating activities
|
1,090
|
|
4,196
|
|
(229)
|
|
(3,464)
|
|
|
|
|
|
|
|
|
Cash flows from
investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease (Increase)
in restricted deposit
|
(428)
|
|
-
|
|
(428)
|
|
203
|
Redemption of
(Investment in) short-term deposits
|
(9,300)
|
|
(2,502)
|
|
(1,222)
|
|
12,879
|
Purchase of property
and equipment
|
(776)
|
|
(398)
|
|
(2,833)
|
|
(1,582)
|
Proceeds from sale of
property and equipment
|
-
|
|
26
|
|
-
|
|
26
|
Investment in
marketable securities
|
(10,913)
|
|
(7,598)
|
|
(30,123)
|
|
(29,695)
|
Proceeds from
redemption or sale of marketable securities
|
11,075
|
|
10,403
|
|
26,488
|
|
33,208
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) investing activities
|
(10,342)
|
|
(69)
|
|
(8,118)
|
|
15,039
|
|
|
|
|
|
|
|
|
Cash flows from
financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercise of employee
stock options
|
266
|
|
20
|
|
363
|
|
113
|
Purchase of treasury
stocks
|
-
|
|
(506)
|
|
-
|
|
(3,832)
|
|
|
|
|
|
|
|
|
Net cash provided by
(used in) financing activities
|
266
|
|
(486)
|
|
363
|
|
(3,719)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Increase (Decrease)
in cash and cash equivalents
|
(8,986)
|
|
3,641
|
|
(7,984)
|
|
7,856
|
Cash and cash
equivalents at the beginning of the period
|
24,328
|
|
19,685
|
|
23,326
|
|
15,470
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents at the end of the period
|
$
15,342
|
|
$
23,326
|
|
$
15,342
|
|
$
23,326
|
|
|
|
|
|
|
|
|
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
|
View original
content:http://www.prnewswire.com/news-releases/allot-communications-announces-fourth-quarter-and-full-year-2017-financial-results-300593986.html
SOURCE Allot Communications Ltd.