AudioCodes Ltd. (Nasdaq: AUDC; TASE: AUDC) today announced a restructuring plan "to better align the company resources and assets to its core networking and enterprise telephony businesses." It also announced its second quarter guidance: a non-GAAP loss per share of $0.04 on $31 million revenue.
AudioCodes expects the restructuring, which will be carried out over the next 6-9 monhts, will reduce its annual operating expenses by 10%. It "expects the restructuring to support a return to profitability and to focus investments in innovations around its key strategic initiatives in the unified communications and enterprise telephony markets."
AudioCodes chairman, president and CEO Shabtai Adlersberg said, "We are in the process of conducting a full global review of our operations to reduce annual operation expenses, simplify the organization and refine future investments."
AudioCodes' share price fell 4.6% at the opening on Nasdaq to $1.65, giving a market cap of $66 million, after falling 6.4% on the TASE to NIS 6.68.
Published by Globes [online], Israel business news - www.globes-online.com - on July 11, 2012
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