AudioCodes Ltd. (AUDC) reported that its fourth quarter net income declined to $3.66 million or $0.12 per share, from $7.55 million or $0.23 per share last year.
On a non-GAAP basis, quarterly net income was $8.91 million or $0.28 per share compared to $11.92 million or $0.36 per share in the previous year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share for the fourth quarter. Analysts' estimates typically exclude special items.
Revenues for the fourth quarter were $63.60 million down from $70.66 million last year. Analysts expected revenue of $63.49 million for the quarter.
AudioCodes declared a cash dividend in the amount of 18 cents per share. The dividend is payable on March 6, 2024, to all of the company's shareholders of record at the close of trading on the NASDAQ Global Select Market on February 20, 2024.
AUDC closed Monday's regular trading at $12.17 up $0.68 or 5.92%.
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