Why AudioCodes (AUDC) Stock Is Plummeting On Wednesday

NEW YORK (TheStreet) -- Shares of AudioCodes Ltd. (AUDC) are down -13.38% to $5.67 on Wednesday after the company reported a net income loss for the first quarter.

AudioCodes, which  develops and sells products for voice and data over packet networks, reported a GAAP-net loss for the 2014 first quarter was -$278,000, or 1 cent per diluted share, compared to net income of $71,000, or $0.002 per diluted share, for the same quarter in 2013.

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Revenue increased 11.4% over the year ago quarter to $36 million from $32.3 million.

TheStreet Ratings team rates AUDIOCODES LTD as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate AUDIOCODES LTD (AUDC) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth. However, as a counter to these strengths, we find that we feel that the company's cash flow from its operations has been weak overall."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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