The numbers are actually higher than the estimates provided by Yahoo! Finance and are still supportive of strong growth.
RDWR is a leader of application delivery and application security solutions for virtual and cloud data centers. The stock remains one of the cheapest technology companies and a solid investment in our Opportunistic models.
The company also announced a $20M stock repurchase (this was the part we saw last week). With a market cap of only $475M now, $20M does provide for a decent percentage of the outstanding shares, but it's not how we prefer small cap techs too spend money.
Per the RDWR PR:
- the company refined its expectations for its third quarter 2011 results to be within previously provided guidance. Quarterly revenues are expected to range between $42 to $42.2 million for the third quarter of 2011 within previously provided guidance of $42 to $43 million and Non-GAAP EPS is expected to range between $0.33 to $0.34 per diluted share within previously provided guidance of $0.33 to $0.35.
- announced that its board of directors has authorized a share repurchase plan allowing the repurchase of up to $20 million of ordinary shares.
Disclosure: Long RDWR. Please review the disclaimer page for more details.