This post is one in a series in which over 50 newsletter advisors share their Top Picks for 2012.

By David Covas, The Oberweis Report

BroadSoft (BSFT) makes software that enables telecommunications companies to deliver voice and multimedia services over internet-protocol (IP) networks. 

Demand for products from the Gaithersburg, Md., company is surging as customers replace old-time circuit-switched networks with next generation packet-based networks.

Network operators looking to build lower-cost networks and to differentiate their service offerings, especially given heightened competition, have been increasingly deploying an IP infrastructure. 

Once in place, they need a software offering such as BroadSoft to deliver and coordinate voice, video and messaging communications through that new IP-based network. 

Verizon, for example, uses BroadSoft products to enhance the offerings it provides to both Enterprise customers and individual consumers. 

With the explosion of IP-enabled devices -- that is, smartphones and other mobile devices that can connect to the Internet -- the demand for these services grows, driving customers like Verizon to buy more licenses from BroadSoft. 

Its software also enables unified communications, so an executive might wake up in Beijing or Oslo, pull out a smartphone, and make and receive calls just as if he or she were at a desk in New York. 

Although they compete with heavyweights including Alcatel (ALU), Avaya and Cisco (CSCO), the scalability and breadth of features is a compelling selling point; BroadSoft maintains a leading market share within this fragmented marketplace of players. 

The company increased revenues 60% in the latest reported quarter versus the same quarter of last year, with earnings growth of over 300% from the prior year level. 

With shares currently trading for 26 times my forward estimate of $1.20, we think the stock has considerable upside from current levels.

Steven Halpern's TheStockAdvisors.com​​ offers a free daily review of the favorite stock ideas of the nation's top financial newsletter advisors.