AudioCodes Ltd. (NASDAQ:AUDC) Q2 2020 Earnings Conference Call - Final Transcript

Jul 28, 2020 • 08:30 am ET


AudioCodes Ltd. (NASDAQ:AUDC) Q2 2020 Earnings Conference Call - Final Transcript


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Greetings. Welcome to AudioCodes Second Quarter 2020 Earnings Conference Call. [Operator Instructions] I will now turn the conference over to Brett Maas with Hayden IR. Brett, you may begin.

Brett Maas

Thank you. Hosting the call today are Shabtai Adlersberg, President and Chief Executive Officer and Niran Baruch, Vice President of Finance and Chief Financial Officer.

Before we begin, I'd like to remind you that the information provided during this call may contain forward-looking statements related to AudioCodes' business outlook, future economic performance, product introductions, plans and objectives related thereto, and statements concerning assumptions made or expectations as to any future events, conditions, performance, or other matters are forward-looking statements as the term is defined under US federal securities law.

Forward-looking statements are subject to various risks and uncertainties, and other factors that could cause actual results to differ materially from those stated in such statements. These risks, uncertainties and factors include, but are not limited to, the effect of global economic conditions in general and conditions in AudioCodes' industry and target markets in particular, shifts in supply and demand, market acceptance of new products, and the demand for existing products; the impact of competitive products and pricing on AudioCodes and its customers' products and markets; timely product and technology development, upgrades and the ability to manage changes in the market conditions, as needed possible; need for additional financing; the ability to satisfy covenants in the company's loan agreements; possible disruptions from acquisitions; the ability of AudioCodes to successfully integrate the products and operations of acquired companies into AudioCodes' business; possible adverse impact of the COVID-19 pandemic on our business and results of operations; and other factors detailed in AudioCodes' filings with the US Securities and Exchange Commission. AudioCodes assumes no obligation to update this information.

In addition, during the call, AudioCodes will refer to non-GAAP net income and net income per share. AudioCodes has provided a full reconciliation of non-GAAP net income and net income per share to its net income and net income per share according to GAAP in the press release and is posted on its website.

Before I turn the call over to management, I'd like to remind everyone that this call is being recorded. An archived webcast will be made available on the Investor Relations section of the company's website at the conclusion of the call.

With all that said, I'd like to turn the call over to Shabtai. Shabtai, please go ahead.

Shabtai Adlersberg

Thank you, Brett. Good morning and good afternoon everybody. I would like to welcome all to our second quarter conference call. With me this morning is Niran Baruch, Chief Financial Officer and Vice President of Finance of AudioCodes. Niran will start off by presenting a financial overview of the quarter. I will then review the business highlights and summary for the quarter and then, discuss trends and developments in our business and the industry. We will then turn it into the Q&A session. Niran?

Niran Baruch

Thank you, Shabtai, and hello everyone. As usual, on today's call,