March 26 (Bloomberg) -- AudioCodes Ltd., a maker of technology to enable Internet phone calls, headed for the biggest decline since October in New York after reducing its revenue and profit forecast for 2012.
Shares of the Lod, Israel-based company slumped 17 percent, the biggest drop since Oct. 3, to $2.93 by 10:07 a.m. on the Nasdaq Stock Market in New York. The Israeli shares declined 17 percent to 10.95 shekels, or the equivalent of $2.94, at 4:07 p.m. in Tel Aviv.
Revenue for the first quarter will be between $32 million and $35 million and between $140 million and $150 million for the full year, AudioCodes said today in a Globe Newswire statement. The revised estimate reflects weakness in sales in North America and lower than anticipated government sales, the company said.
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