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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 May 2000
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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<PAGE>
RADVISION LTD.
6-K Items
1. RADVision Ltd. Press Release dated May 1, 2000 Announcing First Quarter
2000 Results.
2. RADVision Ltd. Press Release dated May 1, 2000 Appointing Chief Operating
Officer.
<PAGE>
ITEM 1
<PAGE>
RADVISION
FOR IMMEDIATE RELEASE
Contact: David Seligman
CFO
RADVision, Ltd.
Tel: 972.3.645.5446
[email protected]
www.radvision.com
Karen Gurwitz
Dir. Corporate Communications
RADVision, Inc.
Tel: 201.529.4300, x305
[email protected]
www.radvision.com
RADVISION ANNOUNCES 2000 FIRST QUARTER RESULTS
Record High Revenue Driven by Pent Up Demand
for Real-time Voice and Video Over IP Solutions
Tel Aviv, Israel, May 1, 2000 -- RADVision Ltd. (NASDAQ: RVSN), the leading
provider of award-winning, industry-standard products and technology for
real-time voice and video communication over IP, today announced results for the
first quarter ended March 31, 2000. Revenues totaled $7.8 million compared with
$3.4 million reported in the first quarter of 1999 and $5.6 million in the
fourth quarter of 1999, an increase of $4.4 million or 129% and $2.2 million or
39% respectively. Net loss for the quarter was $521,000, a loss of $0.04 per
share, compared with a net loss of $65,000 or $0.00 per share for the first
quarter of 1999 and a net loss of $1,779,000 or $0.13 per share for the fourth
quarter of 1999.
Ami Amir, RADVision's CEO said, "Results for our first quarter as a public
company were very good, and exceeded our expectations across our entire product
line. Now that our significant partners like Cisco and Polycom offer our
products as part of their total solutions, we are seeing an extremely high rate
of adoption of our IP based networking products. We believe that the significant
increase in business is driven by enterprises beginning to implement their
strategic plans to integrate real time IP based voice and video communication
capabilities into their networking infrastructure."
- more -
<PAGE>
About RADVision
RADVision is a leading provider of products and technology that enable real-time
voice, video and data communications over packet networks, including the
Internet and other networks based on the Internet protocol or IP. RADVision's
products and technology are used by RADVision customers to develop systems that
enable enterprises and service providers to use next generation packet networks
for real-time IP communications. RADVision is actively involved in the
development of the industry standards that are driving the emergence and growth
of the use of packet networks for real-time communications, and was the
first-to-market with enabling technology and the products required for the
transmission of real-time voice, video and data over packet networks. As a
result, RADVision is well positioned to lead the market with products and
technology that enable enterprises and service providers to migrate their voice
and video communications from traditional telephone networks to next generation
packet networks. The company's products and technology include standards-based
gateways, conferencing bridges, gatekeepers and software toolkits. 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.
###
All trademarks recognized
-- Tables to Follow --
<PAGE>
RADVision LTD.
Consolidated Statement of Income
(U.S. Dollars in thousands)
(Unaudited)
Three Months Ended March 31
2000 1999
---- ----
Sales 7,827 $3,393
Cost of Sales 1,944 454
--------------- --------------
Gross Profit 5,883 2,939
Research and Development, Net 2,294 1,200
Marketing and Selling, Net 3,610 1,661
General and Administration 615 240
--------------- --------------
Operating Income (Loss) (636) (162)
Financial Income (net) 115 97
Net Income/(Loss) $ (521) $ (65)
--------------- --------------
Earnings per Share (U.S. Dollars) ($0.04) $0.00
Weighted Average Number of Shares 14,626,504 13,485,221
Outstanding During the Period
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-- more --
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RADVision LTD.
Consolidated Balance Sheet
(U.S. Dollars in thousands)
March 31 December 31
2000 1999
(Unaudited) (Audited)
Assets
Cash and Short Term Deposit $ 85,245 $ 2,605
Receivable - Trade 3,700 3,214
Receivable - Other 1,620 1,517
Inventory 4,070 2,433
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Current Assets 94,635 9,769
Long Term Investments 7,097 ---
-------------- ----------------
Severance Pay Fund 554 470
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Equipment
Cost 4,911 4,400
Less Accumulated Depreciation 1,623 1,379
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3,288 3,021
Total Assets 105,574 $ 13,260
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Liabilities and Equity
Short Term Debt $ 63 $ 64
Payable - Trade 2,432 2,558
Other Payables & Accrued Expenses 9,848 6,333
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Current Liabilities 12,343 8,955
Accrued Severance Pay 900 757
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Bank Loans 52 67
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Shareholder's Equity
Share Capital 147 21
Capital Surplus 103,047 13,789
Deferred compensation (1,117) (1,052)
Accumulated deficit (9,798) (9,277)
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92,279 3,481
Total Liabilities 105,574 $ 13,260
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# # #
<PAGE>
ITEM 2
<PAGE>
RADVISON
For Immediate Release
Contact: Karen Gurwitz David Seligman
Dir. Corporate Communications CFO
RADVision, Inc. RADVision, Ltd.
Tel: 201.529.4300, x305 Tel: 972.3.645.5446
[email protected] [email protected]
http://www.radvision.com http://www.radvision.com
RADVision Appoints Chief Operating Officer to Manage Accelerated Growth
Tel Aviv, Israel, May 1, 2000 -- RADVision Ltd. (NASDAQ: RVSN), the leading
provider of award-winning, industry-standard products and technology for
real-time voice and video communication over IP, today announced the promotion
of Shykeh Gordon to Chief Operating Officer. Mr. Gordon, who will be reporting
to Ami Amir, RADVision's Chief Executive Officer, will be responsible for Sales,
R&D, Customer Support and Production. Mr. Amir will continue to be responsible
for the more strategic and long-term functions.
Ami Amir said, "RADVision has grown tremendously over the past two years and we
are now seeing this growth accelerate. The new organizational structure will
enable us to better manage this growth, and in parallel, to continue to develop
strategies and establish additional key relationships with other industry
leaders. Shykeh brings excellent managerial and operational skills to this new
position plus intimate knowledge of all aspects of our business."
Shykeh Gordon joined RADVision in 1995 as President of RADVision's US
subsidiary. Since May 1999, he has served as Vice President of Global Sales. Mr.
Gordon has been an essential part of RADVision' success in doubling sales in the
last three consecutive years.
About RADVision
RADVision is a leading provider of products and technology that enable real-time
voice, video and data communications over packet networks, including the
Internet and other networks based on the Internet Protocol or IP. RADVision's
products and technology are used by RADVision customers to develop systems that
enable enterprises and service providers to use next generation packet networks
for real-time IP communications. RADVision is actively involved in the
development of the industry standards that are driving the emergence and growth
of the use of packet networks for real-time communications, and was the
first-to-market with enabling technology and the products required for the
transmission of real-time voice, video and data over packet networks. As a
result, RADVision is well positioned to lead the market with products and
technology that enable enterprises and service providers to migrate their voice
and video communications from traditional telephone networks to next generation
packet networks. The company's products and technology include standards-based
gateways, conferencing bridges, gatekeepers and software toolkits. 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
<PAGE>
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.
----------------
(Registrant)
By /s/David Seligman
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David Seligman
Chief Financial Officer
Dated: May 3, 2000
