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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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F O R M 6-K
Pursuant to Section 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the month of April 2001
RADVISION LTD.
(Name of Registrant)
24 Raoul Wallenberg St., Tel Aviv 69719 Israel
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F __
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes __ No X
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RADVISION LTD.
6-K Items
1. RADVision Ltd. Press Release dated April 5, 2001 re RADVision Reports
Preliminary First Quarter Results.
ITEM 1
Corporate Contacts: Investor Contacts:
David Seligman Jody Burfening/Sanjay Hurry
Chief Financial Officer Lippert/Heilshorn & Associates
RADVISION, Ltd. Tel: 212.838.3777
Tel: 972.3.645.5446 jbs@lhai.com
cfo@radvision.com
Sandra Fathi
Dir. Corporate Communications
RADVISION, Inc.
Tel: 201.529.4300 x301
Mobile: 201.406.6150
sfathi@radvision.com
RADVISION REPORTS PRELIMINARY FIRST QUARTER RESULTS
- Company Revises Guidance for the Second Quarter and Comments on
Outlook for Fiscal 2001 -
Tel Aviv, Israel, April 5, 2001 -- RADVISION Ltd. (NASDAQ: RVSN), the
leading provider of award-winning, industry-standard products and technology for
real-time voice and video communication over IP (V2oIP(TM)), today reported
preliminary results for the first quarter of 2001. Revenues for the first
quarter are expected to be in the range of $14.8 to $14.9 million, compared with
revenues of $7.8 million in the first quarter of 2000. Net income is expected to
be between $1.8 and $1.9 million, or $0.08 to $0.09 per share, compared to a net
loss of $0.5 million, or $0.04 per share, in the first quarter of 2000. These
anticipated first quarter results for 2001 compare to prior guidance of $15.3
million in revenues and net income of $1.9 million, or $0.09 per share.
Commenting on the expected results for the quarter, Ami Amir, chief
executive officer of RADVISION, said, "We are seeing a slow down in enterprise
spending in the United States, leading to lower orders from some of our
customers for our networking products compared to what we expected at the time
of our fourth quarter conference call. At the same time, we expect revenues from
enabling technologies to be on plan for the quarter."
Citing a less predictable business environment and ongoing softness in
enterprise spending in the United States, Mr. Amir said that the Company expects
to report revenues
for the second quarter in the range of $11.5 to $12.5 million and earnings in
the range of $0.01 and $0.02 per share. According to Mr. Amir, "The current lack
of visibility makes it extremely difficult for us to put forward guidance for
the second half of the year with a high degree of confidence. Minimally, we
expect revenues for fiscal 2001 to be no less than the $46 million we reported
in fiscal 2000."
"We are aligning our cost structure with our lower revenue expectations
with a view toward maintaining positive earnings in fiscal 2001. We are
concentrating our resources on sales driven activities and on establishing new
channel partners outside of the United States and strengthening our existing
channel partnerships. We have reduced overall spending and have implemented a
10% reduction in our workforce effective April 2nd. We are focusing our efforts
on improving our performance by doing more with less and without sacrificing our
long-term goals."
Concluded Mr. Amir, "With cash and cash equivalents of $97 million as of
December 31, 2000 and virtually no debt, we believe that we have the financial
stability to weather this slowdown and maintain our market leadership and the
technological advantage that we have relative to our competitors. We have the
resources to leverage our current reputation as the recognized experts in V2oIP
and build for the future through continued investment in new product and market
development."
First Quarter 2001 Earnings Conference Call and Webcast - April 18, 2001 at
9:00a.m. EST
RADVISION management will host a conference call and webcast to discuss the
company's first quarter results and discuss its detailed guidance for the second
quarter and estimated results for the remainder of fiscal 2001 on Wednesday,
April 18th at 9:00 a.m. EST. Those wishing to join should call (888) 730-9143,
international callers dial (712) 257-3640, at approximately 8:50 a.m. EST.
Members of the investment community are also invited to visit the "Investor
Relations" area of the company's website, www.radvision.com, to listen to the
conference call via live Webcast. A replay of the call will be available
starting on April 18th at 11:00 a.m. EST and continuing until April 25 at
11:00 p.m. EST. To access the replay, please call (888) 277-9374, international
callers dial (402) 998-0936.
ABOUT RADVISION
RADVISION is a leading provider of products and technology for real-time voice,
video, and data communications over packet networks; this includes the Internet
and other Internet Protocol (IP) based networks. Recognized universally as the
experts in real-time Voice and Video over IP (V(2)oIP), RADVISION offers the
broadest and most complete set of enabling technology and networking systems
needed to enable enterprises and service providers to migrate their voice and
video communications from traditional telephone networks to new converged
networks. Today, hundreds of thousands of end-users around the world communicate
over next-generation networks, using IP-centric products and solutions built
around RADVISION products and technology. RADVISION 's multi-protocol software
toolkits for IP communications include: SIP, MEGACO, MGCP, and H.323;
RADVISION's V(2)oIP networking products include: gateways, conferencing bridges,
and gatekeeper applications. For more information, please visit our website at:
www.radvision.com.
This press release contains forward-looking statements that are subject to risks
and uncertainties. Factors that could cause actual results to differ materially
from these forward-looking statements include, but are not limited to, general
business conditions in the industry, changes in demand for products, the timing
and amount or cancellation of orders and other risks detailed from time to time
in RADVision's filings with the Securities and Exchange Commission, including
RADVision's Form F-1 registration statement.
All trademarks recognized
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
RADVISION LTD.
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(Registrant)
By /s/David Seligman
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David Seligman
Chief Financial Officer
Dated: April 5, 2001