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AudioCodes Announces Fourth Quarter and Full Year 2011 Results
By Jyothi Shanbhag, TMCnet Contributor
AudioCodes (News - Alert), a company offering Voice over IP (VoIP) technologies and Voice Network products, has published its financial results for the fourth quarter and year ended December 31, 2011.
The financial report tells that the company increased its revenues for the fourth quarter of 2011 – $37.2 million compared to $36.0 million for the third quarter of 2011 and $40.5 million for the fourth quarter of 2010. Revenues were $155.8 million in 2011 compared to $150.0 million in 2010.
The company mentioned that it earned a net income of $670,000, or $0.02 per diluted share, for the fourth quarter of 2011 compared to a net loss of $527,000, or ($0.01) per diluted share, for the third quarter of 2011, and net income of $5.4 million, or $0.13 per diluted share, for the fourth quarter of 2010.
Also, the non-GAAP net income for the fourth quarter of 2011 is mentioned in the books as $1.5 million, or $0.04 per diluted share, compared to $274,000, or $0.01 per diluted share, for the third quarter of 2011, and $4.5 million, or $0.11 per diluted share, for the fourth quarter of 2010.
“AudioCodes fourth quarter 2011 performance was highlighted by a return to sequential growth in all key financial metrics including revenues, earnings and cash flow from operations, and continued strength in our core networking business which grew over 20 percent in 2011 compared to 2010,” commented Shabtai Adlersberg (News - Alert), chairman, president and CEO of AudioCodes.
Adlersberg said that they have experienced increased demand in their markets and growing activities and projects with their customers and partners in the areas of unified communications, IP and TDM connectivity for business services and mobility, all of which present additional opportunities for AudioCodes to continue their growth and increase their market share.
In addition, the company's Board of Directors has approved a stock repurchase program during the fourth quarter as part of their ongoing commitment to enhancing shareholder value.
AudioCodes develops and sells advanced Voice over IP (VoIP) and converged VoIP and Data networking products and applications to service providers and enterprises.
AudioCodes is a Platinum sponsor of ITEXPO East 2012. Happening now at the Miami Beach Convention Center in Miami, Fla., ITEXPO (News - Alert) is the world’s premier IP communications event. Visit AudioCodes in booths #8006E and #607. For more information on ITEXPO registration, click here.
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Jyothi Shanbhag is a contributing editor for TMCnet. To read more of Jyothi's articles, please visit her columnist page.
Edited by Jennifer Russell