Tuesday, July 10, 2012

MagicJack (Nasdaq: CALL) raises outlook on strong sales, shares jump

MagicJack (Nasdaq: CALL) raises outlook on strong sales, shares jumpNorthern, WI 7/10/12 (StreetBeat) -- Israel's MagicJack Vocaltec Ltd (Nasdaq:CALL), which provides internet-based telephone services, raised its estimates for the second quarter and the full year, prompted by strong sales of a new device that can directly connect to a home phone to make unlimited calls.

The company's shares rose more than 15 percent in premarket trading on Tuesday.

MagicJack Plus -- the company's newest offering -- can be directly connected to a home phone without the need to be attached to a computer to make calls. Earlier models needed a computer to make calls.

The company now expects a second-quarter profit of between 48 cents and 52 cents per share. It had, a month ago, said its second-quarter profit is likely to exceed 43 cents. Analysts expect earnings of 36 cents per share, according to Thomson Reuters I/B/E/S.

The company also updated its revenue estimate for the quarter to between $37.5 million and $38.5 million. Last month, it had said second-quarter revenue was likely to exceed $36 million. Analysts estimate a revenue of $35.9 million in the quarter.

MagicJack also raised its full-year earnings forecast to between $1.50 and $1.80 per share from the earlier $1.25 to $1.70 per share.

The company is expected to report a full-year profit of $1.36 per share, according to the average estimate from two analysts.

MagicJack is set to launch new products during the third and fourth quarters, including a Wifi version of its application.

The company's shares closed at $18.71 on Monday on the Nasdaq. They were up at $20.99 in premarket trade on Tuesday.

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