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Total net revenue increased 56% year-over-year to $41.4 million
Access rights renewal revenue of $12.0 million or 29% of total net revenue
GAAP Operating Income of $16.2 million, Adjusted EBITDA of $18.3 million
GAAP Diluted EPS of $1.17, Non-GAAP Diluted EPS of $0.91
Generated $20.8 million in Free Cash Flow
WEST PALM BEACH, Fla. and NETANYA, Israel, April 2, 2013 (GLOBE NEWSWIRE) -- magicJack VocalTec, Ltd (Nasdaq:CALL), a cloud communications leader that invented voice over IP (VoIP) technology, today announced record financial results for the fourth quarter and full year ended December 31, 2012.
"We are very pleased with these outstanding financial results," said magicJack VocalTec President and CEO Gerald Vento. "For the year, we grew total revenue by 43% and had $43.6 million in operating income and $55.9 million in net income. We generated $65.0 million in free cash flow for the year, used $54.3 million of cash to repurchase 3.0 million shares. We ended the year with $38.3 million in cash and marketable securities and no debt."
Vento added, "We have a terrific business with recurring revenue, a strong balance sheet and a robust pipeline of products under development. We are excited about our 2013 product roadmap which we expect will further differentiate the company in the marketplace. We are very pleased to be launching the new Magic Jack Plus with many expanded features. We are also very excited about the adoption rate of our MagicJack APP which has experienced over 8 million activations since its launch in 2011. Looking forward, we believe that the combination of our technology advantage, continued product innovation, efficient cost structure and strong balance sheet and free cash flow generation, position us well to continue to gain market share."