SAN FRANCISCO (Thomson Financial) - Acme Packet Inc. late Thursday reported
adjusted fourth-quarter net earnings of $6.5 million, or 10 cents a share,
in-line with the mean estimate of analysts polled by Thomson Financial of 10
cents.
During the year earlier, adjusted earnings were $6.5 million, or 11 cents a
share.
The Burlington, Mass.-based company posted net income of $5.16 million, or 8
cents a share, down from $10.8 million, or 18 cents a share, last year.
Revenue for the three months ended Dec. 31 came in at $31.4 million,
slightly below the consensus estimate of $31.8 million. Last year, revenue was
$23.7 million.
Additionally, Acme Packet said it expects fiscal 2008 per-share net earnings
of 28 cents to 32 cents, or 38 cents to 42 cents on an adjusted basis, on
revenue of $142 million to $147 million. The company's also said it's targeting
adjusted operating margins of 25% to 26% for the year.
Separately, Acme Packet said that Keith Seidman plans to retire as chief
financial officer. The company said it will retain an executive search firm to
assist in the search for a successor.
Acme Packet provides session border controller solutions for network service
providers.
The company's stock closed the regular session down 32 cents, or about 3.6%,
at $8.70.
Katherine Hunt
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