Sunday, November 5, 2006

AudioCodes Posts Revenue of $40.1 Million, Up 20.5% Sequentially and 34.9% YoY

AudioCodes announced record quarterly revenue of $40.1 million compared to $33.3 million for the quarter ended June 30, 2006 and $29.7 million for the third quarter ended September 30, 2005. Third quarter 2006 revenues grew 20.5% sequentially and increased 34.9% compared to the third quarter of 2005.

Net income for the third quarter of 2006 was $676 thousand, or $0.02 per diluted share, compared to net income of $3.3 million, or $0.07 per diluted share, in the second quarter of 2006 and net income of $3.5 million, or $0.08 per diluted share, in the third quarter of 2005.

"The third quarter marked our twentieth consecutive quarter of sequential revenue growth and five years of continued progress and emergence as a leading player in the VoIP networking industry," stated Shabtai Adlersberg, President, Chairman and CEO of AudioCodes.

"Most notable among our third quarter accomplishments were the completion of the acquisitions of Nuera Communications and Netrake Corporation. We are pleased with our progress to date with the integration of Nuera's and Netrake's activities with our global operations and plan to complete their successful integration in coming quarters. These acquisitions increase our market share in the media gateway market mainly in the evolving cable and wireline markets in North America and Asia Pacific, and provide new growth engines in the evolving session border controller and security gateways market."

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