Radvision, an Israel-based developer of products and technologies for unified visual communications, has posted a net loss of $837,000, or $0.04 per diluted share, for the first quarter ended March 31, 2009, compared with a net loss of $3.07m, or $0.15 per diluted share, in the first quarter of 2008.
The company posted revenues of $18.3m for the first quarter of 2009, compared with revenues of $19.61m in the first quarter of 2008.
The operating loss for the first quarter of 2009 was $1.36m compared with an operating loss of $4.11m in the first quarter of 2008.
Revenue from networking business unit decreased to $13.6m from $14.1m for the first quarter 2008 and revenue from technology business unit decreased to $4.7m compared to $5.5m for the same period last year.
Boaz Raviv, CEO of Radvision, said: We reached our goal of returning to profitability on a non-GAAP basis in the first quarter of 2009 even though our revenues were 4% lower than expected because of below forecast sales of our networking business unit.
The improvement in our profitability was made possible by the planned reduction in our operating expenses, following a year of accelerated investment to advance our technology, and deepen and broaden our channel relationships, which has produced significant results.
Total revenues for the first quarter of 2009 consisted of $13.6 million for the Networking Business Unit (NBU) and $4.7 million for the Technology Business Unit (TBU). This compares with $14.1 million for the NBU and $5.5 million for the TBU reported in the first quarter of 2008.