AudioCodes Announces Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended December 31, 2016
January 31, 2017 at 03:00 am
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AudioCodes announced unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2016. Revenues for the fourth quarter of 2016 were $37.8 million, compared to $37.2 million for the third quarter of 2016 and $35.6 million for the fourth quarter of 2015. Net income was $14.8 million, or $0.44 per diluted share, for the fourth quarter of 2016 compared to $2.8 million, or $0.07 per diluted share, for the fourth quarter of 2015. On a non-GAAP basis, quarterly net income was $2.6 million, or $0.08 per diluted share, compared to $2.8 million, or $0.07 per diluted share, in the fourth quarter last year. Operating income was $3.587 million against $2.463 a year ago. Net cash provided by operating activities was $6.691 million against $7.706 million a year ago. Purchase of property and equipment was $0.288 million against $0.299 million a year ago.
Revenues were $145.6 million in 2016 compared to $139.8 million in 2015. Net income in 2016 was $16.2 million or $0.45 per diluted share, compared to $366,000, or $0.01 per diluted share, in 2015. Non-GAAP net income in 2016 was $9.4 million, or $0.26 per diluted share, compared to $5.9 million, or $0.14 per diluted share, in 2015. Net cash provided by operating activities was $6.7 million for the fourth quarter of 2016 and $18.3 million for 2016. Operating income was $7.754 million against $2.706 million a year ago. Net cash provided by operating activities was $18.342 million against $17.562 million a year ago. Purchase of property and equipment was $1.477 million against $1.976 million a year ago.
AudioCodes Ltd is an Israel-based software publisher. The Company provides communications software, end-to-end products and productivity solutions for the digital workplace. Company's solution's enables enterprises and service providers to build and operate all-IP voice networks for delivering unified communications, contact centers, and hosted business services, whether in the cloud or on premises. AudioCodes Ltd categorizes its products and services into three main business lines: Enterprise solution consists products and solutions designed to simplify the implementation of state-of the-art enterprise communications and contact center solutions; Service provider solutions consist high performance, versatile CPE devices deliver on-premises connectivity to cloud UC services and SIP trunks for business customers; Voice.ai category leverage the latest in voice recognition, AI and machine learning technologies to create voice-driven solutions. The Company servers its customer worldwide.