Allot: Eyes best day in nearly 7 yrs on upbeat Q4 results, 2020 outlook

Allot

04/02/2020 13:54

** U.S.-listed shares of Israeli security solutions provider
 ALLT.O  jump ~16% to $11.25 premarket; set to open at their
highest in over 5 years
    ** Stock on track for its best day in nearly 7 years, if
current levels hold
    ** Co posts better-than-expected Q4 results; ALLT revenue
beat estimates for seventh straight quarter
    ** "While we continue to invest in our offerings and in
sales and marketing, our expenses should grow at a slower rate
than our revenue and subsequently we expect to reach
profitability in the last quarter of 2020" - CEO 
    ** Co also expects 2020 revenue to be between $135 mln and
140 mln, above analysts' expectation of $122.7 mln - Refinitiv
data
    ** Stock had risen 40% in 2019 

 (Reporting by C Nivedita in Bengaluru)
 ((C.Nivedita@thomsonreuters.com))