AudioCodes (Nasdaq:AUDC) surprised again today, reporting a loss per share of 9 cents for the second quarter of 2002.

Its loss is 18% below average analyst expectations, which had been for 11 cents per share.

The company lost a net $3.6 million for the second quarter, compared with earning $306,000 in the parallel quarter of 2001.

The company says that its first-half sales were $12.4 million, compared with $25.2 million in the first half of 2001. Second-quarter sales were $6.7 million, against $11.6 million in the second quarter of 2001.

"This was the third consecutive quarter of improved revenue," commented Shabtai Adlersberg, the company's chairman and CEO.

Indeed, although sales were half that of the parallel period, they were an improvement against the first quarter.

AudioCodes, which provides network equipment providers and system integrators with voice-over-packet media gateway and media processing technology, ended the second quarter with $120.8 million cash and equivalents, compared with $125.4 million at the end of the first quarter.