magicJack Results Trump Insider Share Sales (CALL)
magicJack VocalTec, Ltd. (NASDAQ: CALL) is indicated higher after its earnings results, despite some insider selling into the news. Just before the long weekend came word that insiders were selling up to 5 million shares. The company has further announced…
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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
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.