Audiocodes is meeting analysts’ expectations for the third quarter

Audiocodes is meeting analysts’ expectations for the third quarter
Audiocodes is meeting analysts’ expectations for the third quarter

Audiocodes, which provides a variety of data and voice transmission products on networks, publishes third-quarter reports showing revenue in the third quarter of 2021 totaled $ 63.4 million, compared to $ 60.6 million in the second quarter of 2021 and $ 56.5 million in the third quarter of 2020.

Non-GAAP net income in the third quarter was $ 12.9 million, or 38 cents per fully diluted share, compared to net income of $ 13.3 million or 38 cents per fully diluted share in the third quarter of 2020.

Cash flow from operating activities amounted to $ 13.0 million in the third quarter of 2021. As of September 30, 2021, the Company had cash and cash equivalents, long-term and short-term bank deposits, and long-term and short-term marketable collateral of $ 184.9 million. When during the quarter which ended on September 30, 2021, Audiocodes acquired 424,307 shares under the $ 13.8 million repurchase program.

Data Summary – Non-GAAP

The gross profit margin amounted to about 70%

The operating profit rate amounted to 21.4%

Cash flow from operating activities amounted to $ 13.0 million in the third quarter.

Saturn Adlersberg, President and CEO of Audiocodes notes: “In the third quarter of 2021 we saw continued business momentum in communications sector activities for organizations related to the UCaas and Contact Center markets. With a contribution of close to 85% of our third quarter revenue, while showing growth of over 20% on an annual level, the enterprise business provided a solid foundation for continued growth. At the core of this growth are the UCaaS businesses, which grew by about 18% on an annual level, and the contact center businesses, which grew by more than 20% on an annual level. “

 
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