VoIP pioneer and magicJack developer VocalTec Communications Inc/ (Nasdaq: CALL) has raised its revenue guidance to $117-125 million for 2010 from its previous guidance, issued on July 16, of $110-125 million.
In July, VocalTec executives said that the guidance could be conservative. The company added that it expects to turn a profit in the third quarter of 2010.
Following the merger with magicJack maker YMAX Corporation in July, the company slashed it workforce across the parent and subsidiaries it merged with or acquired. VocalTec said that it now expects to keep the workforce at its current level as it prepares for potential high growth.
VocalTec expects to magicTalk in December, and has over 100,000 free beta downloads, amounting to about 10,000 downloads a day without informing the public that it is looking for volunteers.
VocalTec will hold a shareholders meeting on December 17, 2010.
VocalTec's share price fell 3.6% on Friday to $25.98, giving a market cap of $305 million.
Published by Globes [online], Israel business news - www.globes-online.com - on November 21, 2010
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