AudioCodes Ltd., which develops technology for Internet phone calls, said profit grew in the fourth quarter because of its ties with telecommunications companies that raised spending on advanced networks.
Net income rose to $3.9 million, or nine cents a share, from $2.6m., or six cents, a year ago, the company said in a statement. Revenue climbed to $30.6m. from $25.2m. Results were in line with the mean forecast of three analysts surveyed by Bloomberg News.
Full-year profit more than doubled to $13.4m., or 31 cents a diluted share, from $5m., or 12 cents, in the previous year. Revenue rose to $115.8m. from $82.8m. in 2004, the Yehud,-based company said.
AudioCodes CEO Shabtai Adlersberg said he expects 2006 to be a year of "growth and increased demand."
Shares of AudioCodes fell 3.6 percent, to NIS 57.18 in Tel Aviv.
Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>