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AudioCodes' Strong Second-Quarter Revenue Driven by UC, Microsoft Partnership
By Tammy Wolf, TMCnet Web Editor
Financial results for the second quarter of 2011 beat out the first quarter’s already impressive $41.0 million and $36.5 million over the same period in 2010 – a 9 percent and 30 percent growth, respectively.
“AudioCodes’ improved financial performance continued a trend that reflects the strength of our enterprise and carrier VoIP business,” said Shabtai Adlersberg (News - Alert), chairman of the Board, and president and CEO of AudioCodes, in a press release. “Growth has been driven primarily by the rising demand in the access, broadband, contact centers and unified communications markets.”
The VoIP and networking solutions company’s GAAP-based profit also climbed during the second quarter of 2011, doubling to $4 million, or 9 cents per share, as compared to 7 cents per diluted share for the first quarter. Meanwhile, non-GAAP net profit upticked to $4.9 million, or 12 cents per share, from a previous $2.8 million, exceeding analysts’ previous estimates of 10 cents per share.
The company had sales of $56.5 million in cash and cash equivalents at the end of June, less than at the end of March, and $2 million more than in 2010.
Adlersberg attributes much of this second-quarter success to a rising need for unified communications as well as AudioCodes’ recent expansion to its global ecosystem of partners. This includes leading Microsoft (News - Alert) Voice Specialized Partners (VSPs) to better serve large enterprises and enable the delivery of products and services to customers throughout the global marketplace as Microsoft Lync is quickly adopted.
And Adlersberg doesn’t expect this growth to stop anytime soon. “Investments in partnering with global industry players and value added resellers, combined with an increase in our global sales force coverage, are yielding improvements that are expected to favorably impact us as we proceed through the second half of 2011.”
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Tammy Wolf is a TMCnet web editor. She covers a wide range of topics, including IP communications and information technology. To read more of her articles, please visit her columnist page.
Edited by Jennifer Russell