Audiocodes Reports Rise in Revenues

Audiocodes reported quarterly revenue $26.9 million compared to $25.2 million for the quarter ended December 31, 2004 and $15.3 million for the quarter ended March 31, 2004. First quarter revenues grew 7% sequentially and increased 76% compared to the first quarter of 2004. Net income for the first quarter of 2005 was $3.0 million, or $0.07 per basic and diluted share, compared to a net loss of $43,000, or $(0.00) per basic and diluted share, for the corresponding period last year. The period marked Audiocodes' fourteenth consecutive quarter of revenue growth.
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