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AUDC

AudioCodes

$22.62 /

-1.81 (-7.41%)

11:18
01/29/20
01/29
11:18
01/29/20
11:18

AudioCodes drops 7% after fourth quarter report

Shares of AudioCodes, a vendor of advanced voice networking and media processing solutions based in Israel, are sliding after the company reported that its revenues for the fourth quarter of 2019 were $52.8M, compared to $51.4M for the prior quarter and $45.8M in the same quarter of 2018. Q4 non-GAAP net income was $8.1M, or 26c per diluted share, up from $6.3M, or 20c per diluted share in the fourth quarter last year. Shabtai Adlersberg, President and CEO of AudioCodes, said, "The year 2019 ended on a strong note, underscoring strong performance for the full year, our best year ever. Underlining our success is our continued leadership of the Enterprise Voice segment with our voice connectivity solutions, delivery of strong results for our voice networking business, and increased investment in two new developing markets: the meeting space and Voice.ai...In 2019 we continued to invest and develop technologies and solutions in the Voice.ai business unit which has demonstrated success in growing the number of project wins. In the second half of 2019 we have announced the launch of a new effort targeting a set of solutions and devices for the emerging meeting space. Coupling these new technologies with our strong position in the UC and UCaaS markets in the Microsoft Teams and Skype for Business ecosystem should further enhance our ability to expand our business. Looking forward, and based on current business momentum, we are confident in our ability to continue to expand our business in 2020 and beyond. We plan to continue our investment in future offerings, and focus on the return on investment to our shareholders." In morning trading in New York, shares of AudioCodes are down $1.76, or 7.2%, to $22.64.

  • 26

    Mar

AUDC AudioCodes
$22.62 /

-1.81 (-7.41%)

01/16/20 Sidoti
AudioCodes initiated with a Buy at Sidoti
07/23/19 Needham
AudioCodes price target raised to $20 from $16 at Needham

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