Radvision Ltd. downwardly revises revenue guidance
Radvision Ltd. (Nasdaq: RVSN), which provides technologies for unified visual communications over IP and 3G networks, said this morning that it is downgrading its third quarter revenue guidance.
For the three months ended Sept. 30, the Israeli company said it now expects revenues of approximately $20.5 million compared with its previous forecast of approximately $25 million. The small-cap earned $23.6 million in revenues for the third quarter of 2006. Eight analysts polled by Thomson Financial are on average expecting revenues of $25.12 million.
Radvision attributed its new outlook to a lower revenue forecast for its Networking Business Unit.
The company noted that a major factor in the lower sales to the channels is increased customer demand for High Definition Continuous Presence. Radvision said it plans to introduce a High Definition Continuous Presence solution at the end of October.
Final results for Radvision’s third quarter of 2007 will be reported on Nov. 1.
Shares of Radvision (RVSN) fell $2.71, or 15.43%, to $14.85 in pre-market trading.
