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he company posted $ 49.5 million in revenue in the second quarter, up 13.8% over the same period last year. Net profit per share reached 22 cents, compared with 14 cents in the parallel quarterAudioCodes share(6,455 + 3.95%)Is rising on the Tel Aviv Stock Exchange after the company published quarterly reports, in which it exceeded market forecasts. AudioCodes posted revenues of $ 49.5 million in the second quarter, a growth of 13.8% over the corresponding quarter. GAAP net income increased 2x to $ 4.8 million, and non-GAAP net income, net of employee capital and other accounting expenses, reached $ 6.8 million, up 65.5%. Net profit per share reached 22 cents, compared with 14 cents in the same quarter last year.In the first half of 2019, the company’s revenues grew 11.8% to $ 96.1 million. AudioCodes’ two activities grew by half: sales of products by 11.1% to $ 65.3 million, and service revenues by 13.4% to $ 30.8 million. Profit in the half was $ 7.8 million on a GAAP basis and $ 12.3 million on a non-GAAP basis.We continue to benefit from strong growth in the Unified Communications (UC) and Unified Communications (UCaaS) communications market, and from the transition of telecom service providers to all-in-one solutions,” said Shabtai Adlersberg, president and CEO of AudioCodes. IP. These growth trends alongside the realization of the work plan in the business activity lines enable us to continue to expand our business, while achieving greater financial and operational efficiency.

“Given that we have exceeded the financial forecast for the first half of 2019, we are confident that we can achieve better results this year than we set, and present higher revenues and profitability than previously reported.” The latest forecast published by AudioCodes was for annual revenues of $ 191-197 million, an increase of 8.4% -11.8% compared to 2018, and a non-GAAP net profit of $ 77-82 per share per year.The company is forecasting double-digit annual revenue growth to reach $ 194-198 million. Net earnings per share will be 82-86 cents per share.During the first half AudioCodes generated $ 16.7 million from current operations, of which $ 8.4 million was in the second quarter. At the end of the period, the company had $ 67.8 million in cash and short-term investments, after the Company acquired its own shares in the second quarter for $ 7.1 million. The average share price for self-purchase was $ 14.9, compared to the current price of $ 16.5. AudioCodes is engaged in the field of VoIP, voice transmission over the network. The company is traded on the NASDAQ and Tel Aviv stock exchanges simultaneously, and its market value is $ 483 million, following a 92% rise in its share price in the past year.

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