Acme Packet reports slight slowdown in 3Q results

Acme Packet, the Burlington, Mass.-based session border controller manufacturer, announced fiscal third quarter results showing revenues were up 11 percent sequentially from the second quarter of 2008 and down year-over-year.

Acme Packet reported $28.4 million in revenue for the third quarter 2008, and $85.7 million in year-to-date revenue. Acme Packet slipped slightly in trading yesterday, down to $3.80 per share from its opening price of $4.20 per share.

A company spokesperson cited the economic slowdown as a cause of the slightly lower revenues, but maintained that the company's gross margin was still strong and capex was being managed prudently through the soft economic period.

The company slightly adjusted guidance for the rest of the fiscal year, bringing the high end of its revenue forecast down to $118 million from $119 million, and adjusted its expected revenue from interest up to between $3.4 and 3.6 million from its previous estimate of $3 million.

Acme Packet also announced it has repurchased 6.3 million shares of its common stock for an aggregate price of $35.8 million through Nov. 5, 2008. 

For more:
- see the company release here 

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