AudioCodes Ltd. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported total revenues of $41,418,000 against $37,760,000 a year ago. Operating income was $3,237,000 against $3,587,000 a year ago. Income before taxes on income was $3,233,000 against $3,460,000 a year ago. Net income was $672,000 or $0.02 per basic and diluted share against $14,768,000 or $0.44 per diluted share a year ago. Non-GAAP net income was $3,804,000 or $0.26 per diluted share against $2,608,000 or $0.08 per diluted share a year ago. Net cash provided by operating activities was $8,360,000 against $6,691,000 a year ago. Purchase of property and equipment was $533,000 against $288,000 a year ago.

For the year, the company reported total revenues of $156,739,000 against $145,571,000 a year ago. Operating income was $9,650,000 against $7,754,000 a year ago. Income before taxes on income was $9,640,000 against $7,594,000 a year ago. Net income was $4,030,000 or $0.13 per basic and diluted share against $16,238,000 or $0.45 per diluted share a year ago. Non-GAAP net income was $12,151,000 or $0.37 per diluted share against $9,427,000 or $0.26 per diluted share a year ago. Net cash provided by operating activities was $17,765,000 against $18,342,000 a year ago. Purchase of property and equipment was $1,574,000 against $1,477,000 a year ago.

The company continues to expect top line revenue growth and operating margin expansion in 2018. The company expects revenues in the range of $166 million to $172 million and expects to grow non-GAAP diluted earnings per share above 20% in 2018 setting for the range of $0.41 to $0.46.