magicJack Pops Over 15% on Increased Guidance

Shares of magicJack

are seeing increased strength during Tuesday's trading session after the company raised its revenue and earnings per share guidance for the second quarter. In early June, magicJack announced that the first two months of the second quarter had already generated net income that exceeded analyst estimates for all of Q2. The Company also provided guidance that Q2 revenue should exceed $36 million while Q2 Earnings Per Share (EPS) might surpass $0.43 per share. The Company is now estimating that Q2 revenue will be $37.5 - $38.5 million and Q2 EPS will be between $0.48 - $0.52 per share. This represents 30%+ revenue growth and more than a tripling of EPS compared to the same period in 2011. Operating Income also increased significantly compared to Q1 2012. Other Income is expected to be +/- $0.02 per share of the $0.48 - $0.52. Tuesday, shares of magicJack were trading up over 15 percent, at about $21.70 per share.