LOD, Israel ,
April 10,
2023 /PRNewswire/ -- AudioCodes (NASDAQ: AUDC), a
leading vendor of advanced communications software, products and
productivity solutions for the digital workplace, today announced
that revenues for the first quarter of 2023 are anticipated to be
lower than previously estimated internally when the company
provided guidance for the full year in February 2023. Based on initial analysis, we now
believe financial results to be as follows:
- Revenues in the first quarter are now expected to be in the
range of $58.5 million to
$60 million, approximately 10% to 12%
lower than the first quarter of 2022.
- Non-GAAP diluted net income per share for the first quarter of
2023 is expected to be in the range of $0.07 to $0.09.
- Net cash provided by operating activities for the first quarter
2023 is expected to be in the range of $2
million to $3 million.
Mr. Shabtai Adlersberg, President
and CEO of AudioCodes, said: "Our first quarter results were
impacted by general uncertainty in key global economies affecting
customers' spending decisions, with demand weakness concentrated
mainly in the EMEA region. In addition, we saw North America service providers more tightly
manage their inventories, which contributed to revenue decline. We
intend to revise our outlook and guidance for 2023 at the time of
our first quarter 2023 financial results conference call scheduled
for May 9, 2023 as well as announce
our plans to align our operating expenses for the year to our
current business environment."
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and YouTube.
About AudioCodes
AudioCodes Ltd. (NASDAQ, TASE : AUDC) is a leading vendor of
advanced communications software, products and productivity
solutions for the digital workplace. AudioCodes enables enterprises
and service providers to build and operate all-IP voice networks
for unified communications, contact centers, and hosted business
services. AudioCodes offers a broad range of innovative products,
solutions and services that are used by large multi-national
enterprises and leading tier-1 operators around the world.
For more information on AudioCodes, visit
http://www.audiocodes.com.
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 under 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, but 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 customers' products and markets;
timely product and technology development, upgrades and the ability
to manage changes in market conditions as needed; possible need for
additional financing; the ability to satisfy covenants in the
Company's loan agreements; 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.
©2023 AudioCodes Ltd. All rights reserved. AudioCodes, AC, HD
VoIP, HD VoIP Sounds Better, IPmedia, Mediant, MediaPack, What's
Inside Matters, OSN, SmartTAP, User Management Pack, VMAS,
VoIPerfect, VoIPerfectHD, Your Gateway To VoIP, 3GX, VocaNom,
AudioCodes One Voice, AudioCodes Meeting Insights and AudioCodes
Room Experience 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.
Company
Contact
|
|
|
Niran Baruch
VP Finance & Chief
Financial Officer
AudioCodes
Tel:
+972-3-976-4000
niran.baruch@audiocodes.com
|
|
Roger L.
Chuchen
VP, Investor Relations
AudioCodes
Tel:
732-652-1091
Mobile:
347-752-0780
roger.chuchen@audiocodes.com
|
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SOURCE AudioCodes