magicJack VocalTec provides outlook for Q4
Jan 03, 2013 (Datamonitor via COMTEX) --
magicJack VocalTec, Ltd., a provider of voice-over-Internet-Protocol, or VoIP, the softphone and the magicJack products, has announced that, for the fourth quarter, the company expects to have over $0.70 per share of operating income.
According to the company, these estimates increased based on lower telecom expenses, higher receipts and a reduction in legal, advertising, media and other expenses.
The company reportedly had 19.3 million shares outstanding at end of the third quarter of 2012, and cash and investments of $34.3 million. The company has reduced share count by approximately 500,000 shares and increased cash and investments by $6 million since last quarter (the third quarter of 2012).
The company expects to end 2012 with approximately 18.8 million shares outstanding and approximately $40 million in cash and investments, and continues to reduce its telecom costs while increasing access charge collections, the company said.
magicJack CEO Dan Borislow stated, "Our results for 2012 will exceed expectations. We leave the year with little litigation and having added important new assets. Our future goals have been established with precise plans for achieving them for 2013. I want to thank our employees for a job well done and a special shout out to Greg Wood, Peter Russo, Kirill, Dr Y.W. Sing, Jonathan, Bin, Mary, Greg, Shelby and the Boys."
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