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News Breaks
July 22, 2014
08:59 EDTALLTAllot Communications receives notice of deficiency from NASDAQ
Allot Communications announced that on July 16 it received a notice of deficiency from NASDAQ Stock Market. The non-compliance cited by NASDAQ is the result of the previously-announced departure of Dov Baharav from the company's board of directors. With the departure of Baharav, the company is currently not in compliance with NASDAQ Stock Market Listing Rule 5605, which requires the company's board of directors to be comprised of a majority of independent directors, and NASDAQ Listing Rule 5605, which requires the company's audit committee to be comprised of at least three independent directors. Accordingly, the company intends to hold a meeting of its shareholders to elect one or more new directors who will be independent under the NASDAQ Stock Market Listing Rules and, once elected, to appoint such director to serve as a member of the audit committee within the time period specified in the Notice.
News For ALLT From The Last 14 Days
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July 6, 2015
15:55 EDTALLTAllot Communications downgraded to Hold from Buy at Wunderlich
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11:44 EDTALLTAllot Communications downgraded to Neutral from Buy at Dougherty
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11:28 EDTALLTAllot Communications downgraded to Perform from Outperform at Oppenheimer
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09:15 EDTALLTOn The Fly: Pre-market Movers
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05:23 EDTALLTAllot Communications announces three strategic wins totaling $8M
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05:21 EDTALLTAllot Communications sees Q2 revenue $21M-$22M, consensus $30.43M
Based on preliminary estimates, Allot Communications expects revenue in Q2 to be in the range of $21M-$22M. The company also expects to generate a net operating loss in the quarter. Allot's book to bill ratio in Q2 was above 1 and cash reserves comprise of cash, cash equivalents, bank deposits and marketable securities as of June 30 were approximately $120M. "We are disappointed by the Q2 preliminary results and attribute this weakness to lower bookings in Q1 as well as delays in closing certain deals during Q2". Said Andrei Elefant, CEO and president of Allot Communications. "During Q2, our bookings rebounded and included three wins totaling approximately $8M from new Tier-1 mobile operators. We expect initial revenue recognition from these wins during the second half of 2015."

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