| Press release |
RadView Software Reports 2005 Fourth Quarter and Year Results
BURLINGTON, Mass.–(BUSINESS WIRE)–April 5 , 2006–RadView Software Ltd.
(OTCBB: RDVWF), a premier provider of solutions for verifying the performance,
scalability and integrity of business critical Web applications, today reported
financial results for the fourth quarter and year ended December 31, 2005.
Revenues for fiscal year 2005 were $5,645,000 compared to $4,663,000 in 2004.
The Company's net loss for fiscal year 2005 was $2,465,000, or $0.12 per share,
compared to a net loss of $3,780,000 million, or $0.19 per share, in 2004.
Revenues for the fourth quarter of 2005 were $1,251,000 compared to $1,329,000
for the same period last year. The Company's net loss for the fourth quarter of
2005 was $518,000, or $0.03 per share, compared to a net loss of $866,000, or
$0.04 per share, for the same period last year.
"We are encouraged by the improvement in our annual revenues and the
substantial reduction in our loss," said Ilan Kinreich, President and CEO of
RadView. "We look forward to continuing our efforts toward future profitability
while expanding our presence in the marketplace."
The Company separately announced the signing of definitive agreements on April
4, 2006 for a financing with Fortissimo on behalf of itself and several
co-investors, with a minimum initial investment of $1,500,000 and, at the
election of the investors, an additional investment of up to $2,250,000.
About RadView
RadView(TM) Software Ltd. (OTCBB: RDVWF) is a leading provider of solutions for
verifying the performance, scalability and integrity of business-critical Web
applications. Deployed at over 1,600 customers worldwide from major industries
such as financial services, retail, manufacturing, education and technology,
RadView's award-winning products enable customers to reduce costs while
improving the quality of their Web applications throughout the development
lifecycle. Corporate offices are located in Burlington, MA. For more
information visit www.radview.com or call 1-888-RADVIEW.
Media Contacts
Beth Clark
RadView Software
781-238-1133
bclark@radview.com
Statements concerning RadView's business outlook or future performance;
anticipated revenues, expenses or other financial items; product introductions
and plans and objectives related thereto; and statements concerning assumptions
made or expectations as to any future events, conditions, performance or other
matters, are "forward-looking statements" as that term is defined under U.S.
Federal securities laws. Forward-looking statements are subject to various
risks, uncertainties and other factors that could cause actual results to
differ materially from those stated in such statements. These risks,
uncertainties and factors include, but are not limited to: our limited
operating history and history of losses; need for additional financing; market
acceptance of our products; ability to develop new products and enhance
existing products; impact of significant competition; and other factors
detailed in RadView's filings with the Securities and Exchange Commission.
RadView assumes no obligation to update the information in this release.
RadView, WebLOAD, WebRM, WebLOAD Analyzer and WebFT are trademarks of RadView
Software Ltd. Other names may be trademarks of their respective owners.
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