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Comverse Technology (CMVT) was down 5.1% in preopen Instinet trading after the software maker posted second-quarter earnings late Tuesday of 28 cents a share, in line with lowered analysts' estimates but down from 36 cents in the year-earlier period.

Comverse said revenue rose to $345 million from $292 million.

The Israeli company blamed the drop in earnings on delayed orders, part of the larger slowdown in technology spending.