Shares of Allot (NASDAQ: ALLT) have jumped a lot today, up as much as 14%, after the company reported fourth-quarter earnings. As of 11:10 a.m. EST, the stock was up 7%.
Revenue in the fourth quarter increased 28% to $39.1 million, slightly ahead of the consensus estimate of $38.9 million. That resulted in adjusted net income of approximately $400,000, or $0.01 per share. That bottom-line result was right on target compared to what Wall Street analysts were modeling for. The technology company , which provides network intelligence and security services, said maximum annual revenue (MAR) potential of concluded transactions reached $192 million for 2020.
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Why Allot Stock Jumped a Lot Today