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
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
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