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MagicJack Lifts FY12 Outlook, Names Gerald Vento President, CEO

magicJack VocalTec, Ltd. (CALL) Friday forecast full-year earnings above its previous guidance range. Earlier, the company had forecast earnings in a range of $1.70 to $2.00 per share and revenues of approximately $155.0 million.

For the fourth quarter, the company has forecast operating earnings of over $0.70 per share, on revenues of $39 million.

The company also said Gerald Vento has been appointed as its President and Chief Executive Officer, effective January 1, 2013.

Vento joined magicjack as a Director and was later promoted to Chairman of the Board. Vento is the founder of TeleCorp PCS, Inc., and has also served as its Chairman and CEO.

Donald Burns has been elected to take over Vento as the Chairman of the Board.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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