AudioCodes Ltd.'s (Nasdaq: AUDC; TASE: AUDC) share leaped 9% to almost $8 on Nasdaq yesterday, its highest point in three and a half years, with trading turnover being 11 times the daily average. The share surged after AudioCodes reported that it had been selected to provide communications solutions to communications provider British Telecom.
The contract with British Telecom is for the business market, in which AudioCodes is providing the UK company with session border controller (SBC) solutions (solutions for connectivity between IP networks) to be stationed at British Telecom's business customers. AudioCodes did not report the amount of the contract.
AudioCodes, which provides voice over Internet protocol (VoIP) solutions, has a $250 million market cap. The company's share price also jumped 9% today on the TASE.
AudioCodes COO and global sales head Lior Aldema said, "We are proud that British Telecom has selected our SBCs. In addition to the ease with which they can be deployed and the support they provide in monitoring voice quality, the flexibility and expansion capabilities of our SBCs make them ideal for hosted service providers."
AudioCodes will publish its third quarter results on October 25. Analysts expect the company to report a $0.09 non-GAAP net profit on $39.2 million in revenue. The company's share price has risen 56% over the past year, among other things with support of its buyback program.
Published by Globes [online], Israel Business News - www.globes-online.com - on October 17, 2017
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