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May 06, 2011

AudioCodes Announces First Quarter 2011 Financial Results

By Jyothi Shanbhag, TMCnet Contributor


AudioCodes’s (News - Alert) financial results for the first quarter of 2011, ended March 31, 2011, indicated that the revenues for the first quarter of 2011 were $41.0 million, compared to $40.5 million for the fourth quarter of 2010 and $34.8 million for the first quarter of 2010.

GAAP-based net profit rose to $3 million ($0.07 per share) for the first quarter from $1.7 million for the corresponding quarter. Non-GAAP net profit rose to $4.1 million ($0.10 per share) from $2.5 million for the corresponding quarter.

Shabtai Adlersberg (News - Alert), chairman of the board, president and CEO of AudioCodes, said that the company has continued to deliver solid sequential and year-over-year revenue growth in the first quarter of 2011 driven by the rising global demand for converged VoIP and data networks solutions.

According to Adlersberg, this quarter the company successfully expanded its partnership activities with leading enterprise and unified communications market leaders such as Microsoft, Alcatel-Lucent (News - Alert) and a leading mobile phone market player.

“We extended our presence in the Enterprise Mobility VoIP market with the debut of our MobilityPLUS productivity suite which extends the Microsoft (News - Alert) LYNC 2010 enterprise collaboration solution to enable anywhere, anytime productivity and collaboration with Alcatel-Lucent in the enterprise mid-size Session Border Controllers (E-SBCs) market," Adlersberg said.

The company has also mentioned that its Non-GAAP net income for the first quarter of 2011 was $4.1 million, or $0.10 per diluted share, compared to non-GAAP net income of $4.5 million, or $0.11 per diluted share, for the fourth quarter of 2010, and non-GAAP net income of $2.5 million, or $0.06 per diluted share, for the first quarter of 2010.

"AudioCodes stands at the center of the unified communications connectivity and mobility market and we believe we can increasingly become the preferred voice expert partner in the industry. We believe that these first quarter 2011 developments, coupled with our product portfolio strengths and growing global sales reach, set a strong foundation for continued growth and profitability in 2011," said Adlersberg.

AudioCodes designs, develops and sells advanced Voice over IP (VoIP) and converged VoIP and Data networking products and applications to Service Providers and Enterprises.

In other AudioCodes news, the company announced an agreement to acquire all outstanding equity of N.S.C Natural Speech Communications Ltd. "NSC," that it does not already own.


Jyothi Shanbhag is a contributing editor for TMCnet. To read more of Jyothi's articles, please visit her columnist page.

Edited by Carrie Schmelkin
 



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