Apparently the holiday season is treating magicJack VocalTec (NASDAQ:CALL, news, filings) very well. The company said today that it has sold over 365,000 of its magicJack devices in the past 30 days, and is now expecting $55-60M in sales for the fourth quarter. By next month, they expect to have $50M in cash on their balance sheet, although much of the extra revenue will be of the deferred variety.
Just seven days ago, they were preparing to offer a pile of shares to the market, which would have raised cash for an advertising campaign amongst other things. They have now canceled that dilution due to their holiday sales bounty. At least somebody’s having a good winter so far.
I’m curious how the USF and Intercarrier Compensation reform the FCC just pushed through will affect magicJack, given its creative use of the former regime.
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