October 6, 2009 / 11:15 AM / 9 years ago

UPDATE 1-Radware raises Q3 outlook

* Sees Q3 EPS $0.09-$0.10, ex items

* Sees Q3 rev $28.8-$29 mln

Oct 6 (Reuters) - Israel’s Radware Ltd (RDWR.O), a maker of equipment to manage traffic on the Internet, raised its third-quarter outlook, boosted by strong demand for its products and tighter cost controls.

For the quarter, Radware expects to earn 9 cents to 10 cents a share, excluding items, higher than its prior view of 5 cents to 6 cents.

The company sees revenue of $28.8 million to $29.0 million, up from $27.3 million to $27.7 million it had earlier forecast.

Analysts expected the company to earn 6 cents a share, before items, on revenue of $27.8 million, according to Thomson Reuters I/B/E/S.

Radware’s business is growing due to its leading product offering — OnDemand Switch platform series — and its acquisition of Alteon from Nortel Networks Corp NRTLQ.PK, it said in a statement.

Shares of Radware closed at $11.07 Monday on Nasdaq. (Reporting by Manasi Phadke in Bangalore; Editing by Deepak Kannan)

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