Key Developments For RADVision Ltd
RADVision Ltd (RVSN.O) (Nasdaq)
RADVISION LTD. Issues Q4 2009 Guidance; Earnings Guidance Above Analysts' Estimates
RADVISION LTD. announced that it expects to report revenues for the fourth quarter of 2009 of approximately $21.5 million and net income of approximately $2.3 million or $0.12 per diluted share. This includes stock-based compensation expense in accordance with SFAS 123R of $1.0 million or $0.05 per diluted share. Excluding this item, non-GAAP net income for the fourth quarter of 2009 is expected to be $3.3 million or $0.17 per diluted share. According to Reuters Estimates, analysts were expecting the Company to report revenue of $22.7 million, net profit of $3.2 million and EPS of $0.16 for the fourth quarter of 2009.
RADVISION LTD. Issues Q3 2009 Guidance In Line With Analysts' Estimates; Comments On Q4 2009 Earnings Guidance
RADVISION LTD. announced that for the third quarter of 2009, it expects to report revenues of approximately $20.0 million and net income of approximately $0.6 million or $0.03 per diluted share (EPS). This includes stock-based compensation expense in accordance with SFAS 123R of $1.2 million or $0.06 per diluted share. Excluding this item, non-GAAP net income for the third quarter of 2009 is expected to be $1.8 million or $0.09 per diluted share. The Company expect to achieve a modest sequential increase in revenues with stronger growth in operating income in the third quarter of 2009, followed by a return to year-over-year revenue growth and greater profitability in the final quarter of 2009. According to Reuters Estimates, analysts are expecting the Company to report EPS of $0.09, net profit of $1.8 million on revenues of $20.4 million for the third quarter of 2009.
Zohar Zisapel Announces Results of Partial Tender Offer For RADVISION LTD.'s Shares
Zohar Zisapel announced the final results of his tender offer to purchase 5.0% of the outstanding ordinary shares of RADVISION LTD. (currently, 971,394 RADVISION shares) for $7.70 per share, net to the seller in cash, less any required withholding taxes and without interest. The offer expired on June 25 at 10:00 a.m., New York time, or 5:00 p.m., Israel time. As of the expiration date of the offer, based on the final results provided by American Stock Transfer & Trust Company, the U.S. depositary of the offer, and by Clal Finance Batucha Investment Management Ltd., the Israeli depositary of the offer, 175,338 RADVISION shares, or approximately 0.9% of the outstanding RADVISION shares, had been validly tendered and not withdrawn. The offer included a statutory condition that RADVISION shares representing at least 5.0% of the outstanding RADVISION shares be validly tendered and not withdrawn. The minimum condition of the offer was not met and therefore none of the tendered shares will be accepted. The tendered shares not previously withdrawn will be returned promptly to their respective tendering shareholders.
RADVISION LTD. and Samsung Announces Jointly Developed Desktop Video Conferencing Solution
RADVISION LTD. and Samsung Electronics Co. announced the VC240, a jointly developed high definition desktop video conferencing device that integrates advanced high definition video conferencing into a high resolution multimedia LCD monitor. The VC240 is the result of joint design and development between the two companies and leverages each company`s respective expertise. The VC240 is fully interoperable with RADVISION`s SCOPIA line of products and complements RADVISION`s other desktop video solutions. It will offer RADVISION`s latest advanced video features including SVC (Scalable Video Coding) and Forward Error Correction features ensuring the highest quality possible.
Zohar Zisapel Extends Expiration Date To Tender Offer For RADVISION LTD.
RADVISION LTD. announced that Zohar Zisapel is extending the expiration date of his pending tender offer to purchase 5.0% of the outstanding ordinary shares of RADVISION Ltd. (currently, 971,394 RADVISION shares) for $7.70 per share, net to the seller in cash, less any required withholding taxes and without interest. As a result of the extension, the initial period of the tender offer and withdrawal rights, previously scheduled to expire on June 15, 2009, will now expire on June 25, 2009. The additional period of the tender offer, if the conditions to the offer have been satisfied (or waived, to the extent permitted by applicable law), will now expire on Monday, June 29, 2009. Mr. Zisapel further announced that he has waived his right to extend the initial offer period beyond June 25, 2009. No changes were made to the offer price of $7.70 per share.
