Shares of Acme Packet (APKT) fell in the extended session after the provider of networking software and equipment reported below-consensus quarterly results.
The Bedford, Mass.-based company posted non-GAAP earnings of $18.3 million, or 26 cents a share, on revenue of $83 million, falling short of the average estimate of analysts polled by Thomson Reuters for a profit of 28 cents a share on revenue of $85.2 million.
The stock was last quoted at $27.10, down 12.3%, on volume of 2.3 million, according to Nasdaq.com.The numbers were doubly disappointing because Acme Packet missed the lowered revenue estimate it provided on Jan. 3 when it gave a forecast for non-GAAP earnings of 26 to 28 cents a share on revenue of $84 million to $86 million. At that time, the company attributed the weakness in its business to "uncertainty in the North American service provider market." Based on Thursday's close at $30.89, the shares have lost more than 56% in the past year, scraping a 52-week low of $25.20 on Jan. 4. Other stocks moving in late trades included Wynn Resorts (WYNN), which dipped 1.2% to $116.80 on volume of more than 450,000 after the casino operator's fourth-quarter revenue came in slightly below Wall Street's consensus view; Trimble Navigation (TRMB), which gained 10% to $53 on volume of more than 70,000 after the GPS technology company reported fourth-quarter earnings of 54 cents a share on revenue of $435.2 million, ahead of analyst expectations for a profit of 48 cents a share on revenue of $419.1 million; and Genworth Financial (GNW), which rose 6.2% to $8.54 on volume of more than 170,000 after the company reported net income of $107 million, or 22 cents a share, in its fiscal fourth quarter. --Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
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