AudioCodes Updates 2011 Outlook
Lod, Israel – October 3, 2011 - AudioCodes (NasdaqGS: AUDC), a leading provider of Voice over IP (VoIP) technologies and Voice Network products, today announced that it plans to release third quarter 2011 financial results on Tuesday, November 1, 2011, during pre-market hours. The company also announced that preliminary estimates for the full year 2011 revenue and net income per share would be below previous guidance.
The Company is now projecting that revenues for the full year 2011 will be between $155 million and $162 million based on preliminary estimates for third quarter 2011 revenues of $36 million to $37 million. Previous full year 2011 guidance forecasted revenues of between $167 million and $174 million. As a result, the Company also expects the net income per share for 2011 to be lower than previously forecasted while remaining profitable in the third quarter 2011 on a Non-GAAP basis. The revised estimates for the third quarter and full year 2011 reflect a slow-down in business related to lower than anticipated technology, government and residential business line sales and softer macro-economic conditions in North America and Western Europe.
AudioCodes will provide further commentary on these issues and their potential impact on the company's fourth quarter results during its third quarter financial results conference call which is scheduled for November 1, 2011 at 9:00 a.m. Eastern Time. Investors can listen to a live webcast of the conference call by visiting the AudioCodes Investor Relations website at http://www.audiocodes.com. A replay of the webcast will also be available on the same website following the completion of the call.