FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report on Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
November 8, 2000
VOCALTEC COMMUNICATIONS LTD.
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(Translation of Registrant's Name into English)
1 Maskit Street
Herzliya 46733, Israel
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(Address of Principal Corporate Offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F X Form 40-F
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Indicate by check mark, whether the registrant by furnishing the
information contained in this form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.
Yes No X
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If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): N/A
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Attached hereto and incorporated by reference herein are Registrant's
Immediate Press Releases as follows:
(i) Release, dated October 26, 2000, entitled "VocalTec Reports Third
Quarter 2000 Results."
THE INFORMATION IN THIS FORM 6K OF VOCALTEC
COMMUNICATIONS LTD. (THE "COMPANY") IS INCORPORATED
BY REFERENCE INTO THE FORM F-3 OF THE COMPANY,
REGISTRATION NUMBER 333-8764, FILED WITH THE SECURITIES
AND EXCHANGE COMMISSION ON MAY 13, 1998.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this Report to be signed on its behalf
by the undersigned, thereunto duly authorized.
VOCALTEC COMMUNICATIONS LTD.
(Registrant)
By: /s/ Jeffrey Dykan
Dated: November 8, 2000 ------------------------------
Jeffrey Dykan
Chief Financial Officer
[VOCALTEC LOGO]
VOCALTEC REPORTS THIRD QUARTER 2000 RESULTS
Quarterly revenues grow by 67% year over year
FORT LEE, NEW JERSEY, OCTOBER 26, 2000 - VocalTec Communications Ltd.,
(VocalTec) (NASDAQ: VOCL), today announced financial results for the third
quarter ended September 30, 2000. Revenues increased 67 percent to a record
$11.3 million and the net loss narrowed to $4.5 million, or $0.37 per
share, compared to a net loss for the year-ago period of $5.6 million, or
$0.49 per share.
For the nine months ended September 30, 2000, VocalTec reported revenues of
$29.8 million, an increase of 57 percent over the $18.9 million reported
for the same period last year. The net income for the first nine months of
2000 was $33.2 million, or $2.52 per diluted share, compared to a net loss
of $23.2 million, or $2.03 per share, for the year-ago period. The net loss
for the first nine months of 1999 included a one-time restructuring charge
of $827,000, or $0.07 per share, in the second quarter of 1999, and net
income figures for the same period in 2000 included a net after tax gain of
$48.7 million on the sale of ITXC Corp. shares in the first quarter of
2000.
"For the second straight quarter, sales in Asia accounted for more than 25
percent of total revenue. Reflecting the strength of our strategic
partnerships, OEM software sales accounted for approximately 14 percent of
total revenue," said Elon Ganor, Chairman and Chief Executive Officer of
VocalTec. "In terms of our service businesses, we are receiving positive
feedback from customers regarding the quality, features and ease of use of
our Surf&Call Network Services(TM), and are actively pursuing key customer
relationships and alliances. On the TrulyGlobal(TM) side, we expect to
announce public availability of the service for carriers in November."
"The third quarter saw many repeat orders and several new deals," said Ira
Palti, President of the IP Telephony Group. "We have also successfully
signed up customers, such as ISF in Japan, to use our enhanced services
platform." As announced on September 28, ISF Corporation, an Internet
Telephony Service Provider, intends to establish a regional clearinghouse
for Asia, based on VocalTec technology.
Within VocalTec, third quarter orders continued to result in larger
deployments. As announced on October 5, the expanded relationship between
VocalTec and Huawei Technologies Co. Ltd. resulted in the largest IP
Telephony network within China Telecom. According to Zwicka Ben Zion,
President of the VocalTec Head Office in Asia, "As a result of the
cooperation with Huawei, VocalTec's Network Operations Center at China
Telecom now passes traffic over a significantly greater number of E1 lines
than the next largest vendor."
ABOUT VOCALTEC
VocalTec Communications Ltd. (NASDAQ: VOCL) is a leading supplier of
Internet telephony solutions, credited with launching the VOIP (Voice Over
Internet Protocol) industry in 1995. The Company has three business units:
VocalTec, which provides turnkey IP Telephony solutions to service
providers; Surf&Call Network Services, which offers services to web-enabled
call centers; and TrulyGlobal Inc., which enables carriers to provide a
personal unified communication service to their customers. VocalTec is a
founder of ITXC Corp. (NASDAQ: ITXC), a leading exchange carrier for
Internet telephony services established in 1997. VocalTec currently holds
4.8 million shares of ITXC. Visit us at www.vocaltec.com
NOTE: VocalTec, Surf&Call and TrulyGlobal are trademarks or registered
trademarks of VocalTec Communications Ltd. Other trademarks are the
property of their respective holders. Certain statements contained in this
release may contain forward-looking information with respect to plans,
projections or the future performance of VocalTec Communications or any of
its subsidiaries or businesses, the occurrence of which involves certain
risks and uncertainties, including, but not limited to, product and market
acceptance risks, the impact of competitive pricing, competitive products,
product development, commercialization and technological difficulties, and
other risks detailed in the Company's reports filed from time to time with
the Securities and Exchange Commission.
For more information contact:
ADAM SCHWARTZ
Vorhaus & Company Inc.
Public Relations for VocalTec
Tel: 212-554-7448
[email protected]
LAURA GAVIN
MarCom Manager
VocalTec Communications
Tel: 201-228-7000 x 6207
[email protected]
CARMEN DEVILLE
Investor Relations
VocalTec Communications
Tel: 201-228-7000 x 6208
[email protected]
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VOCALTEC COMMUNICATIONS LTD.
RESULTS OF OPERATIONS
All data in thousands of U.S. dollars except per-share and share data
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30 SEPTEMBER 30
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2000 1999 2000 1999
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<S> <C> <C> <C> <C>
Net Sales 11,305 6,761 29,754 18,942
Cost of Sales 3,734 2,061 9,404 5,875
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Gross Profit 7,571 4,700 20,350 13,067
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Operating Expenses:
Research & Development costs, net 3,387 3,096 9,863 10,516
Marketing & Selling expenses 7,645 6,138 21,935 21,015
General & Administrative expenses 2,099 1,359 6,384 4,741
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Total Operating Expenses 13,131 10,593 38,182 36,272
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Operating loss (5,560) (5,893) (17,832) (23,205)
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Other income (expenses), net - - 57,744 (827)
Financing income, net 1,040 240 2,351 790
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Income (loss) before income taxes (4,520) (5,653) 42,263 (23,242)
Income taxes - - 9,013 -
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Net income (loss) (4,520) (5,653) 33,250 (23,242)
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Net income (loss) per ordinary share:
Basic (0.37) (0.49) 2.76 (2.03)
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Diluted (0.37) (0.49) 2.52 (2.03)
========= ========= ========= =========
Weighted average number of ordinary
shares used in coputing per share
amounts:
Basic 12,117 11,472 12,065 11,444
========= ========= ========= =========
Diluted 12,117 11,472 13,213 11,444
========= ========= ========= =========
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VOCALTEC COMMUNICATIONS LTD.
RESULTS OF OPERATIONS-SEGMENT INFORMATION
(In thousands of U.S. dollars)
SURF&CALL
IP Telephony Network Services TrulyGlobal Total
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<S> <C> <C> <C> <C>
Three months ended September 30 , 2000
Net Sales 10,101 1,204 - 11,305
Operating Loss (2,825) (1,042) (1,693) (5,560)
Nine months ended September 30 , 2000
Net Sales 26,364 3,390 - 29,754
Operating Loss (11,208) (1,901) (4,723) (17,832)
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CONSOLIDATED BALANCE SHEET
(In thousands of U.S. dollars)
SEPTEMBER 30 DECEMBER 31
2000 1999
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Current Assets
Cash and cash equivalents 36,095 31,915
Short term investments 22,389 1,730
Trade receivables, net 4,123 6,163
Other receivables 4,486 3,068
Inventories 4,727 1,602
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Total Current Assets 71,820 44,478
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Investments and Long Term Deposits
Investments in companies 20,235 37,845
Bank deposits 4,000 -
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24,235 37,845
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Equipment
Cost 15,614 11,539
Less - accumulated depreciation 8,374 5,920
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7,240 5,619
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Deposit with insurance companies 1,659 1,329
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104,954 89,271
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CONSOLIDATED BALANCE SHEET CONTINUED (In thousands of u.s. dollars)
SEPTEMBER 30 DECEMBER 31
2000 1999
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Current Liabilities
Accounts payable and accrued expenses 20,873 8,503
Deferred revenues 2,245 -
Accrued income taxes 2,633 -
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25,751 8,503
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Long Term Liabilities
Long term bank loans - 20,017
Deferred income taxes 6,712 -
Accrued severance pay 2,219 1,761
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8,931 21,778
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Total Liabilities 34,682 30,281
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Shareholders' Equity
Share capital
Ordinary shares of NIS 0.01 par value:
Authorized - 30,000,000 shares;
Issued and outstanding - 12,123,680
shares as of September 30,2000 and
113671,302 as of December 31, 1999 36 35
Share premium 96,989 94,627
Deferred compensation (117) (188)
Accumulated other comprehensive income 10,069 34,471
Accumulated deficit (36,705) (69,955)
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Total Shareholders' Equity 70,272 58,990
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104,954 89,271
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