This year is starting out to be much better for AudioCodes (www.audiocodes.com). The HD voice company (or HD VoIP as it would likely prefer) reported revenues of $34.8 million in 1Q 2010, as compared to $34.2 million in the last quarter of 2009 and $29.3 million back in the dark days of 1Q 2009.
GAAP net income was up, $1.7 million as compared to $1.2 million in 4Q 2009 and a non-GAP net loss of $3.3 million back in 1Q 2009. The increase works out to $0.04 cents per share, as compared to $0.03 cents per share in 4Q 2009.
During the first quarter of 2010, AudioCodes generated $3.3 million in cash from operating activities compared to $26,000 in the first quarter of 2009.
Regrettably, AudioCodes has incorporated the “unified IP communications and collaboration” buzzwords into its statement and leaves references to HD Voice to the boilerplate at the end of the press release.