Why magicJack VocalTec (CALL) Hit a One-Year High Today

NEW YORK (TheStreet) -- magicJack VocalTec  (CALL) hit a one-year high of $23.15 as of 2 p.m. on Friday as the company, famous for its Voice over IP technology, continued to benefit from its fourth-quarter earnings report earlier in the week that smashed analysts' expectations.

For the fourth quarter, magicJack reported earnings of 69 cents a share, which beat the consensus estimate of 41 cents a share by 28 cents. Revenue declined 7.8% year over year to $38.2 million, though this still easily beat the expectation of $35.9 million, according to analysts surveyed by Thomson Reuters.

For the full fiscal year 2014, the company expects revenue in the range of $158 million and $163 million, which surpassed analysts' estimates of $147.2 million revenue.

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