(Updates with closing share price in second paragraph.)
Oct. 3 (Bloomberg) -- AudioCodes Ltd., a maker of technology to enable internet phone calls, fell the most in more than a decade after cutting its annual revenue outlook.
Shares of the Lod, Israel-based company sank 27 percent to $2.29 on the Nasdaq Stock Market by 4 p.m. in New York, the most since December 2000. AudioCodes’ Tel Aviv stock lost 7.9 percent to 10.58 shekels, the equivalent of $2.81.
AudioCodes expects full-year revenue of $155 million to $162 million, according to a statement distributed by Globe Newswire today. The company previously forecast revenue of as much as $174 million.
--With assistance from Gwen Ackerman in Jerusalem. Editor: Emma O’Brien
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