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Allot Communications Rises to 3-Month High After Earnings

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Nov. 1 (Bloomberg) -- Allot Communications Ltd. rose to the highest level in almost three months after Israel’s biggest maker of high-speed networking equipment said third-quarter profit almost tripled.

The shares gained as much as 3.9 percent before closing up 0.3 percent at 50.10 shekels in Tel Aviv, the highest since Aug. 3. The benchmark TA-25 Index slumped 2.8 percent.

Third-quarter net income increased to $2.1 million from $800,000 a year earlier as revenue rose 37 percent to $20.1 million, the company said.

To contact the reporter on this story: Shoshanna Solomon in Tel Aviv at ssolomon22@bloomberg.net

To contact the editor responsible for this story: Claudia Maedler at cmaedler@bloomberg.net

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