QualityStocks'  Instablog

QualityStocks
Send Message
QualityStocks (www.qualitystocks.net) assists publicly traded companies by getting their story out to the investment community while helping investors discover emerging companies with plenty of growth potential. Our name, QualityStocks, emphasizes our commitment to connect subscribers with... More
My company:
QualityStocks
My blog:
QualityStocks Micro-Cap and Small-Cap Blog
  • VocalTec Communications Ltd. (CALL) Announces $12M Stock Repurchase Program 0 comments
    Jul 23, 2010 10:35 AM | about stocks: CALL

    The merger of VocalTec Communications Ltd., inventor of VOIP and the softphone, and YMAX Corp., the creator of magicJack and various products and services, resulted in an emerging entity with access to more than 30 patents. The company’s stated mission is to become the leading provider of global voice over many platforms.

    VocalTec recently announced a stock repurchase program in which the company may purchase up to $12 million of its common stock through the next 12 months, bought with positive cash flow from operations and $40 million in cash and securities on hand.

    The timing and actual number of shares repurchased, if any, are subject to a variety of factors including price, corporate and regulatory requirements, alternative uses of capital and other market conditions.

    The company also announced initial guidance for the second quarter of 2010, with expectations of second-quarter revenues of approximately $30.5 million. The company said it believes net income will total more than $3 million before one-time charges related to merger expenses and before any gains or losses on marketable securities.

    The VocalTec board of directors also approved the scheduling of a shareholders meeting to include voting on the possible 25 percent company ownership by CEO and director Daniel Borislow. According to the press release, Borislow may elect to make further investments of up to and then over 25 percent in the company if the increase in ownership gets shareholder approval.

    Please see disclaimer on QualityStocks website: disclaimer.qualitystocks.net



    Disclosure: no positions

    Stocks: CALL
Back To QualityStocks' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.