AudioCodes Reports Fourth Quarter and Full Year 2011 Results
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"AudioCodes fourth quarter 2011 performance was highlighted by a return to sequential growth in all key financial metrics including revenues, earnings and cash flow from operations, and continued strength in our core networking business which grew over 20% in 2011 compared to 2010," commented Shabtai Adlersberg, Chairman, President and Chief Executive Officer of AudioCodes. "In the fourth quarter of 2011 we experienced increased demand in our markets and growing activities and projects with our customers and partners in the areas of unified communications, IP and TDM connectivity for business services and mobility, all of which present additional opportunities for AudioCodes to continue our growth and increase our market share."
"In the past two years, we have invested in growing our managed and technical services, which accounted for 15% of our total revenues in the fourth quarter of 2011. Growing over 25% annually in the past two years, we believe that our services practice will continue to grow at a similar rate in coming years and expect it to be an influential growth engine for AudioCodes. Based on our confidence in the near and long-term growth prospects for AudioCodes' business, as well as the strength of our balance sheet, the Company's Board of Directors approved a stock repurchase program during the fourth quarter as part of our ongoing commitment to enhancing shareholder value," concluded Mr. Adlersberg. |
