December 28, 2009 / 3:38 PM / in 8 years

UPDATE 1-Radware raises Q4 outlook, shares hit 2-yr high

* Sees Q4 EPS $0.19-$0.21

* Sees Q4 rev of $31 mln-$32 mln

* Shares hit 2-yr high

Dec 28 (Reuters) - Israel’s Radware Ltd (RDWR.O) raised its fourth-quarter outlook, citing continued sales growth and industry-high gross margins, sending its shares up to a 2-year high.

Radware, which makes equipment to manage traffic on the internet, now expects earnings of 19 cents to 21 cents per share on revenue of $31 million to $32 million for the quarter, it said in a statement.

The company had expected earnings of 15 cents to 16 cents per share on revenue of $30 million.

Shares of the Tel Aviv-based Radware, which bought Alteon from Nortel Networks Corp NRTLQ.PK earlier this year, were up 72 cents to $14.94 in morning trade Monday on Nasdaq. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Unnikrishnan Nair)

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