AudioCodes Ltd. Announces Unaudited Consolidated Earnings Results for First Quarter Ended March 31, 2015 ; Revises Earnings Guidance for the Full Year 2015; Announces Management Changes
April 28, 2015 at 11:20 am IST
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AudioCodes Ltd. announced unaudited consolidated earnings results for first quarter ended March 31, 2015. For the quarter, the company reported total revenues of USD 37,480,000 against USD 35,951,000, last year. Operating income was USD 1,053,000 against USD 157,000, last year. Income before taxes on income was USD 1,118,000 against USD 244,000, last year. Net loss was USD 378,000 or USD 0.01 per basic and diluted share against USD 278,000 or USD 0.01 per basic and diluted share, last year. Non-GAAP total revenue was USD 37,480,000 against USD 35,951,000, last year. Non-GAAP operating income was USD 2,053,000 against USD 1,117,000, last year. Non-GAAP income before taxes on income was USD 2,118,000 against USD 1,204,000, last year. Non-GAAP net income was USD 1,950,000 against USD 1,062,000, last year. Diluted net income per share was USD 0.05 against USD 0.03, last year. Net cash provided by operating activities were USD 4,713,000 against USD 1,947,000, last year. Purchase of property and equipment was USD 842,000 compared to USD 411,000, for the same quarter a year ago.
The company announced updating it's full year guidance, mainly to account for the recent change in the Euro/U.S. Dollar exchange rates. The company expects revenues for 2015 to be in the range of USD 158 million to USD 162 million compared with the prior forecast of a range of USD 162 million to USD 167 million. Non-GAAP net income per diluted share is expected to be in the range of USD 0.24 to USD 0.28 compared with the prior forecast of USD 0.26 to USD 0.30.
The company announced that it has appointed Niran Baruch as its new chief accounting officer and vice president of finance, effective May 1, 2015. Baruch has over 15 years of experience in Nasdaq traded public companies. Ofer Segev, the vice president of finance and CFO, will be leaving the company at the end of the month to pursue new challenges. Shabtai Adlersberg, president, and chief executive officer, together with Niran Baruch, vice president of finance and chief accounting officer, will assume executive management of it's finance department.
AudioCodes Ltd is an Israel-based software publisher. The Company provides communications software, end-to-end products and productivity solutions for the digital workplace. Company's solution's enables enterprises and service providers to build and operate all-IP voice networks for delivering unified communications, contact centers, and hosted business services, whether in the cloud or on premises. AudioCodes Ltd categorizes its products and services into three main business lines: Enterprise solution consists products and solutions designed to simplify the implementation of state-of the-art enterprise communications and contact center solutions; Service provider solutions consist high performance, versatile CPE devices deliver on-premises connectivity to cloud UC services and SIP trunks for business customers; Voice.ai category leverage the latest in voice recognition, AI and machine learning technologies to create voice-driven solutions. The Company servers its customer worldwide.
AudioCodes Ltd. Announces Unaudited Consolidated Earnings Results for First Quarter Ended March 31, 2015 ; Revises Earnings Guidance for the Full Year 2015; Announces Management Changes