Why Allot Communications Shares Popped
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Allot Communications have popped today by as much as 10% after the company scored a big contract.
So what: Allot said it landed a $6.5 million order from a "Tier-1" mobile operator in Europe, the Middle East, and Africa for Intelligent Steering and Value-Added Service licenses. The company added that the contract is a licensing expansion of an existing deployment. The customer will add functionalities to the current Allot Service Gateways deployment.
Now what: CEO Rami Hadar said the deal shows how Allot can help operators better handle network traffic. For context, Allot posted total revenue of $104.8 million last year, so this order is a solid score for the company. Allot separately confirmed that its next earnings release date will be May 7 before market open.
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The article Why Allot Communications Shares Popped originally appeared on Fool.com.
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