Shares of networking equipment vendor Acme Packet (APKT) are halted, after closing down 60 cents, or almost 2%, at $30.29 in the regular session, just before the company reported Q4 revenue below analysts’ estimates even lowered than it had warned last month.
The shares are expected to resume trading at 4:45 pm, Eastern.
Revenue in the three months ended in December rose 18%, both year over year and quarter over quarter, to $83 million, yielding profit per share of 26 cents.
Analysts had been modeling $84.8 million and 27 cents.
The results were below the revised revenue range of $84 million to $86 million the company had forecast on January 3rd, when it warned that weakness among telco customers in North America would cause results to miss the company’s prior expectations.
Acme will host a conference call with analysts at 4:30 pm, Eastern, and you can catch the webcast of it here.
Update: APKT has resumed trading and is now down $4.39, or 14%, at $26.50
Update 2: During the company’s conference call, management projected EPS this year of 96 cents to $1 per share, which is below the $1.25 per share that the Street has been estimating. The stock has now regained some ground, down just $2.89, or 9.4%, at $27.94.
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