The revenue compares to $30.8 million with income of $1.8 million a year ago.
magicJack had a cash balance of $49.0 million and 23,076,112 shares outstanding at the end of the first quarter 2011 and noted: “Comparing first quarter 2011 cash balances to first quarter 2012 saw an increase of $11.5 million even after the Company bought back over 2 million shares in this time frame.”
The Company hopes to reach the upper limits of its previous expectations of 20% to 30% annual revenue growth in 2012 and also $1.25 to $1.50 in earnings per share. Thomson Reuters has estimates of $1.14 EPS and $153.46 million in sales, but we would note that there are too few analysts to really count as a ‘consensus’ in normal stocks.
magicJack shares are indicated up 4% at $21.75 and the 52-week trading range is $9.49 to $28.22.
JON C. OGG
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