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November 1, 2010

Radvision Q3 revenue up 23% to $25m

Expects revenues of $26m for Q4 2010

By CBR Staff Writer

Radvision, an Israel-based developer of products and technologies for unified visual communications, has posted revenues of $25m for the third quarter of 2010, an increase of 23% compared with revenues of $20.4m for the same quarter previous year.

The operating income for the third quarter of 2010 decreased by 64% to $0.51m compared with an operating income of $1.4m in the third quarter of 2009.

The company posted a net income of $0.31m, or $0.02 per diluted share, for the third quarter ended 30 September 2010, compared with a net income of $1.2m, or $0.06 per diluted share, in the third quarter of 2009.

Revenue from video business unit increased to $20.7m for the third quarter 2010, compared to video business revenue of $15.6m while revenue from technology business unit decreased to $3.9m from $4.8m for the same period last year.

Radvision CEO Boaz Raviv said their third quarter results were better than expected due to the strong performance of their Video Business Unit (VBU) which grew 32% over the third quarter of 2009, more than overcoming the as-expected 21% step-down in revenues from Cisco.

"Our third quarter revenues from endpoints were double those of the second quarter of 2010 as we benefited from the first full quarter of sales of our SCOPIA XT1000 high definition room conferencing system," Raviv said.

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"When combined with sales of our SCOPIA VC240 all-in-one desktop offering, our total endpoint revenues reached 21% of VBU revenues in the third quarter and our Technology Business Unit played a critical role in the development of our endpoints."

The company expects revenues of approximately $26m for the fourth quarter of 2010 and net income of $1.2m or $0.06 per diluted share.

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