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  • azurelight58 azurelight58 Nov 1, 2005 8:24 AM Flag

    AudioCodes posts 29% rise

    AudioCodes posts 29% rise in Q3 net profit

    Net profit for the third quarter of 2005 was $3.5 million on $29.7 million revenue.
    Globes correspondent 1 Nov 05 09:46
    AudioCodes (Nasdaq: AUDC; TASE: AUDC), a provider of voice over packet (VoP) technologies and voice network products, has announced financial results for the third quarter of 2005.
    Net profit for the third quarter of 2005 was $3.5 million, or $0.08 per diluted share, compared with net profit of $1.6 million, or $0.04 per diluted share, for the corresponding period last year.
    Revenue for the quarter of 2005 was $29.7 million compared with $28.5 million for the quarter ended June 30, 2005, and $23.1 million for the quarter ended September 30, 2004. Third quarter 2005 revenue grew 4% sequentially, and increased 29% compared to the third quarter of 2004.
    Net profit for the nine month period of 2005 increased to $9.5 million, or $0.22 per diluted share, from $2.4 million, or $0.06 per diluted share, for the first nine months of 2004.
    Revenue for the nine months ended September 30, 2005 increased 48% to $85.2 million from $57.5 million for the first nine months of 2004.
    Cash and cash equivalents, short-term and long-term marketable securities, short-term and long-term bank deposits and structured notes were $217.1 million as of September 30, 2005 compared with $214.7 million as of June 30, 2005 and $94.5 million as of September 30, 2004. The amounts as of September 30, 2005 and June 30, 2005 included approximately $120.2 million of net proceeds from the sale of senior convertible notes in November 2004.
    AudioCodes president, chairman and CEO Shabtai Adlersberg said, "We are pleased to report yet another quarter of growth for AudioCodes, our sixteenth consecutive quarter of revenue and profit growth. With top line revenue growth of 29% during the third quarter compared to the third quarter of 2004, we mark four years of increasing sequential quarterly revenues, and have continually strengthened our position in our industry".

 
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