>The Leader in Voice over the Internet.
how about Leader of the Packet?
sorry, at least this isn't lame ...
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AudioCodes Reports Record Revenues and Profit for the Second Quarter of 2000 AudioCodes Reports 30% Sequential Revenue Growth and 197% Year-Over-Year Net Income Growth
YEHUD, Israel, Jul 17, 2000 /PRNewswire via COMTEX/ -- AudioCodes Ltd. (Nasdaq: AUDC), a leading provider of IP Telephony and voice over packet technologies, today announced financial results for the second quarter and six months ended June 30, 2000. Net revenues for the second quarter ended June 30, 2000 were US$16.5 million, an increase of 139 percent compared with revenues of US$6.9 million for the second quarter ended June 30, 1999. Net income for the second quarter was US$6.2 million compared with a net income of US$2.1 million for the same period last year. Diluted earnings per share were US$0.29 compared with a diluted earnings per share of US$0.13 for the second quarter ended June 30, 1999.
Net revenues for the six months ended June 30, 2000 were US$29.3 million, an increase of 131 percent over the same period last year, when AudioCodes had revenues of US$12.7 million. Net income for the six months ended June 30, 2000 was US$11.2 million, versus a net income of US$3.7 million for the same period last year. Diluted earnings per share were US$0.52 compared with a diluted earnings per share of US$0.24 for the six months ended June 30, 1999.
"This quarter was very strong for AudioCodes not only in our record financial performance, but also as reflected in our ability to manage growth. Sustaining a quarterly revenues growth rate of 20% and above for the past ten quarters, and an industry leading high net operating margin of more than 25% for seven straight quarters, coupled with substantially improved infrastructure and abilities to service a fast growing market, is the best evidence to our strength," said Shabtai Adlersberg, Chief Executive Officer of AudioCodes Ltd.
AudioCodes enters New Markets
During the quarter, AudioCodes expanded its product offering for the IP telephony and mediation markets, and has shipped its first Voice-over-ATM product for the new fast evolving markets of next generation packet switching and Voice over DSL networks. Targeting the proprietary OEM-designed telecom equipment market, which represents the dominant portion of the access network, the newly introduced TPM-800 media gateway PMC module offers 240 channels of VoIP/VoATM, the highest channel density available in the industry today. In addition to featuring high density, scalability and high availability, the module enables OEMs in the telecom market to achieve quick time coupled with assured performance in a highly integrated subsystem design. The TPM-800 has already been designed into next-gen switching and access equipment, and samples have been shipped to leading telecom equipment vendors in this quarter.
For the PCI-based IP telephony and media server markets, AudioCodes has introduced the industry's first VoIP communications board to support 120 channels of voice, fax and data services. Supporting comprehensive PSTN signaling and packet telephony control protocols such as the H.323 and the MGCP, the TP-240 presents a new level of VoIP performance for PCI systems.
New Customers
AudioCodes continued to expand its customer base and announced important new customer relationships during the quarter. Shanghai PTIC and AudioCodes jointly announced a strategic partnership this quarter in which multiple AudioCodes products have been selected for the third phase of VoIP deployment in China. Shanghai PTIC will use AudioCodes TP200, TP-400, MP-100 and MP-200 products for different market segments in China. Carrier Access Corporation, a leading provider of broadband digital access equipment solutions, demonstrated during the second quarter the world's first carrier-class access media gateway for softswitched networks, utilizing the recently announced TPM-200 Media Gateway Module from AudioCodes. Mariposa, a leading supplier of Integrated Access Devices for the ATM market, also acknowledged the use of AudioCodes five channel AC 48105 processor, in their ATX family of products.
In the PCI-based IP telephony server applications market, the company announced design wins with Vocal Data, Inc. and Buffalo International which have selected the company products for their packet telephony server applications. Most recently, BreezeCOM, a leading provider of broadband wireless access solutions, announced that it has selected AudioCodes' Voice over IP (VoIP) processors for its BreezeACCESS Broadband Wireless Access (BWA) products.
Enhanced Infrastructure
AudioCodes also increased its headcount this quarter by 27%, mainly in research & development and sales & marketing functions. The Company expanded its staff in the United States by over 44% for the second straight quarter and has opened offices in Dallas, Texas, and Chicago, Illinois in addition to offices in San Jose, California, and will soon set up offices in Boston, Massachusetts. The increased presence in the United States reflects AudioCodes commitment to its strategic customers and its strong market penetration in the United States which comprises approximately 66% of total Company sales.
"Testimony to our success in managing growth is our continued rapid product development, increased geographical sales coverage and better customer support", continued Shabtai Adlersberg. "Our strong position in the market relies on our broad base of product offering and technological capabilities which are available for a significant number of different hardware platforms supported by the major protocols and standards required in today's telecommunications industry. We continue to witness a continued penetration of our enabling technologies in a diverse amount of applications developed by our OEM customers." |
