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AudioCodes Reports Mixed Earnings

AudioCodes (NASDAQ: AUDC) reported Q2 adjusted EPS of $0.04–$0.01 lower than the consensus estimate of $0.05. EPS were up 33% year over year. Revenue was $37.60 million versus estimates of $36.90 million. Sales were up 12% from the same quarter last year.

From the press release:

“We are very pleased to report strong growth of our networking business for the second quarter of 2014. This business comprised 88% of our revenues in the quarter. Driven by solid progress across all market segments, our networking business revenues grew 15.3% over the year-ago quarter, and 8.1% over the previous quarter,” said Shabtai Adlersberg, President and Chief Executive Officer of AudioCodes. “We experienced record sales of our Session Border Controller line which grew more than 100% over the year-ago quarter and more than 30% over the previous quarter. Sales of the New Products group category comprising of SBC, Multi-service routers and IP Phones increased more than 30% compared to the previous quarter. In addition to these successes, we continued to grow in the Microsoft Lync segment in-line with our stated plan for 2014 to grow this segment by more than 40% over 2013.”

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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