Acme Packet Plunges After Earnings (APKT)

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Acme Packet (NASDAQ: APKT) released its Q3 earnings results after the closing bell on Thursday. The company reported non-GAAP not income of $13.6 million or $0.20 per share, compared to $5.7 million or $0.09 per share, in the year ago period. This compares with analysts' consensus EPS estimates of $0.19. Revenues were $56.6 million versus $36.3 million in last year's corresponding quarter. This beat analysts' revenue expectations of $54.98 million. The company also provided full year 2010 guidance. APKT now expects revenue between $220-$221 million compared to previous guidance of $214-$218 million. The total revenue growth rate is expected to be 56% versus 53% previously. Non-GAAP EPS is expected to be between $0.76-$0.77 compared to previous guidance of $0.72-$0.74. Non-GAAP EPS growth is now projected to be 119% compared to 109% previously. In the after hours trading session, APKT shares have fallen 6% to $37.30.

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