Acme Packet Q2 revenue falls 15%
Networking hardware company Acme Packet (Nasdaq: APKT) reported second-quarter 2012 earnings in which revenue fell 15 percent year-over-year, to $67.6 million.
Wall Street analysts had projected, on average, revenue of $67.3 million, according to Barron's.
The company's net loss for the second quarter of 2012 clocked in at $100,000, a significant reversal from the $14 million net income the company reported in the second quarter of 2011. Acme Packet reported a net income of $2.4 million in the first quarter of this year.
Shares of Acme Packet fell 14 percent, to $13.98, in after-hours trading Thursday on news the company lowered its full-year guidance to revenue in the range of $270 million to $275 million.
For Q1 2012, Acme Packet reported revenue of $70.8 million, 4.2 percent lower than the prior-year quarter's $74 million total.
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