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AudioCodes -2.6% as Q1 shows revenues down 7%

May 03, 2016 10:22 AM ETAudioCodes Ltd. (AUDC) StockBy: Jason Aycock, SA News Editor
  • Thinly traded voice solution AudioCodes (NASDAQ:AUDC) has slipped 2.6% after Q1 results where it met profit expectations though revenues fell more than 7%.
  • Gross margin (non-GAAP) rose to a record 61.3%. A GAAP net loss narrowed slightly but surprised to the downside, while non-GAAP profits fell to $1.6M from a year-ago $1.9M.
  • Revenue breakout: Products, $24.5M (down 14.2%); Services, $10.2M (up 15%).
  • The company's filed a new application with an Israel court to pursue $15M in additional buybacks and expects a decision in coming weeks.
  • Press Release

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