AudioCodes Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018
January 24, 2018 at 07:25 am
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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.
AudioCodes Ltd is an Israel-based software publisher. The Company provides communications software, end-to-end products and productivity solutions for the digital workplace. Company's solution's enables enterprises and service providers to build and operate all-IP voice networks for delivering unified communications, contact centers, and hosted business services, whether in the cloud or on premises. AudioCodes Ltd categorizes its products and services into three main business lines: Enterprise solution consists products and solutions designed to simplify the implementation of state-of the-art enterprise communications and contact center solutions; Service provider solutions consist high performance, versatile CPE devices deliver on-premises connectivity to cloud UC services and SIP trunks for business customers; Voice.ai category leverage the latest in voice recognition, AI and machine learning technologies to create voice-driven solutions. The Company servers its customer worldwide.
AudioCodes Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2017; Provides Earnings Guidance for the Year 2018