AudioCodes Reports Second Quarter 2012 Results
AudioCodes, a leading provider of Voice over IP technologies, products and services, today announced financial results for the second quarter ended June 30, 2012.
The second quarter of 2012 were $31
Revenues for the second quarter of 2012 were $31.0 million compared to $32.3 million for the first quarter of 2012 and $41.5 million for the second quarter of 2011.
"AudioCodes' second quarter results reflect the challenges we're facing in 2012 as we balance the transition of our business from our legacy product lines towards new emerging products, solutions and services for the enterprise and service provider markets," said Shabtai Adlersberg, Chairman, President and Chief Executive Officer of AudioCodes. "In order to enable renewed growth, we announced two weeks ago a restructuring plan to better align the Company's resources and assets to our core networking business. The plan is expected to generate estimated annualized savings of roughly 10% of the Company's operating expenses and to be implemented over the at once six to nine months. We expect the initial steps already taken to reduce our operating expenses by in broad outline 5% below the current level of expenses as shortly as the fourth quarter of this year. Just in case, we have already started a full global review of our business line activities in order to support our plan to return to profitability and growth in 2013 and beyond," concluded Mr. Adlersberg.
Statements concerning AudioCodes' business outlook or future economic performance; product introductions and plans and objectives related thereto; and statements concerning assumptions made or expectations as to any future events, conditions, performance or other matters, are "forward-looking statements'' as that term is defined in accordance with U.S. Federal securities laws. Forward-looking statements are subject to various risks, uncertainties and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, nevertheless are not limited to: the effect of global economic conditions in general and conditions in AudioCodes' industry and target markets in particular; shifts in supply and demand; market acceptance of new products and the demand for existing products; the impact of competitive products and pricing on AudioCodes' and its clients' products and markets; timely product and innovation development, upgrades and the ability to manage changes in market conditions as needed; possible disruptions from acquisitions; the ability of AudioCodes to successfully integrate the products and operations of acquired companies into AudioCodes' business; and other factors detailed in AudioCodes' filings with the U.S. Securities and Exchange Commission. AudioCodes assumes no obligation to update the information in this release.
©2012 AudioCodes Ltd. All rights reserved. AudioCodes, AC, HD VoIP (Voice over Internet Protocol), HD VoIP (Voice over Internet Protocol) Sounds Better, IPmedia, Mediant, MediaPack, OSN, SmartTAP, VMAS, VoIP (Voice over Internet Protocol)erfect, VoIP (Voice over Internet Protocol)erfectHD, Your Gateway To VoIP (Voice over Internet Protocol) and 3GX are trademarks or registered trademarks of AudioCodes Limited. All other products or trademarks are property of their respective owners. Product specifications are subject to change without notice.
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