RTTNews | Nov 9, 2021 10:03AM EST

10:02 Tuesday, November 9, 2021 (RTTNews.com) - Shares of Allot Ltd. (ALLT) tanked over 11% on Tuesday morning after the software company reported third-quarter results and lowered its revenue outlook for the full year.

ALLT is currently trading at $13.98, down $1.80 or 11.41%, on the Nasdaq. The stock has traded between $9.60 and $21.04 in the past 52-week period.

Net loss for the third quarter widened to $3.1 million or $0.08 loss per share from $2.4 million or $0.07 per share last year. Adjusted loss for the third quarter were $0.2 million or breakeven per share compared to net loss of $1.2 million or $0.03 per share last year.

Third-quarter revenues rose 10% to $38.2 million from $34.8 million last year.

Looking forward to the 2021, Allot now expects revenues to be between $145 million to 146 million. Previously, the company expected revenues of $145 million to 150 million.

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