Shares of networking equipment vendor Acme Packet (APKT) were halted just before the company announced its Q4 results will fall short of prior expectations as a result of “uncertainty” among its telco customers in North America.
Acme now sees 2011 revenue in a range of $308 million to $310 million, down from the prior range of $315 million to $320 million. Analysts have been modeling $318 million. That includes revenue of $84 million to $86 million in Q4, and 26 cents to 28 cents a share in profit, on a non-GAAP basis, versus analysts’ estimate of $93 million and 37 cents.
CEO Andy Ory said the company “continues to perform well” outside of North America.
Acme shares are set to resume trading at 4:50 pm, Eastern time.
Update: Acme shares have resumed trading and are now down $5.86, or over 18%, at $26.00.That’s a new 52-week low for the stock.
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