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Thursday, May 9
In tandem with its Q1 results, magicJack (CALL) announces Peter Russo is being replaced as CFO...
In tandem with its Q1 results, magicJack (CALL) announces Peter Russo is being replaced as CFO by Jose Gordo, who prior to recently joining the company co-founded an investment firm (but apparently left after two years). Russo will remain with the company as a consultant. magicJack is guiding for 2013 revenue of $155M-$160M, which compares with 2012 revenue of $158.4M - no consensus forecast exists. No proceeds were generated from put sales during Q1, but a $1M fair value loss was recorded on put option holdings. Shares -5.4% AH. (PR)