AudioCodes (AUDC) Offers Details of Restructuring Efforts; Guides Q2 Below the Street
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AudioCodes (Nasdaq: AUDC) today announced a plan to restructure its operations in order to better align the Company resources and assets to its core networking and enterprise telephony businesses.
The restructuring plan is expected to generate estimated annualized savings of approximately 10% of the Company operating expenses and to be implemented over the next six to nine months. The Company expects the restructuring to support a return to profitability and to focus investments in innovations around its key strategic initiatives in the unified communications and enterprise telephony markets.
The company expects Q2 sales of about $31 million and a non-GAAP loss of 4 cents per share. The Street is currently looking for sales of $33.88 million and a loss of 1 cent per share.
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The restructuring plan is expected to generate estimated annualized savings of approximately 10% of the Company operating expenses and to be implemented over the next six to nine months. The Company expects the restructuring to support a return to profitability and to focus investments in innovations around its key strategic initiatives in the unified communications and enterprise telephony markets.
The company expects Q2 sales of about $31 million and a non-GAAP loss of 4 cents per share. The Street is currently looking for sales of $33.88 million and a loss of 1 cent per share.
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