AudioCodes Reports Third Quarter 2008 Results
Revenues Rise 15.3% Year-Over-Year, to Record $46.6 Million GAAP Net Income Increases to $3.2 Million, or $0.08 Per Diluted Share Non-GAAP Net Income Increases 72.3% Year-Over-Year to $4.8 Million, or $0.11 Per Diluted Share
Lod, Israel – November 3, 2008 – AudioCodes (NasdaqGS: AUDC), a leading provider of Voice over Packet (VoP) technologies and Voice Network products, today announced financial results for the third quarter ended September 30, 2008.
Revenues for the third quarter were a record $46.6 million compared to $45.7 million for the second quarter ended June 30, 2008 and $40.4 million for the quarter ended September 30, 2007. Third quarter revenues grew 2.1% sequentially and increased 15.3% compared to the third quarter of 2007. Net income in accordance with U.S. generally accepted accounting principles (GAAP) was $3.2 million, or $0.08 per diluted share, for the third quarter of 2008 compared to net income of $1.6 million, or $0.04 per diluted share, for the second quarter of 2008 and a net loss of $72,000, or ($0.00) per diluted share, for the corresponding period last year.