EmailAcme Packet (APKT $36.88 -5.95) issued downside third quarter guidance and the company also reaffirmed 2011 EPS of $1.14-1.18 versus the $1.13 Capital IQ Consensus Estimate.
The company reaffirmed revenues of $315-320 million versus the $325.2 million consensus.
The company said, "While we remain confident in our second half growth plans, our Q3 results were adversely impacted by a very large opportunity at one of the two largest service providers in North America. We now expect this opportunity to close in the first half of Q4 and we remain confident in our ability to execute on our full year business outlook. I continue to believe we are well positioned to leverage the broad, multi-year, secular growth drivers associated with the global transition from TDM to IP for real time communications like voice and video.
The company was recently selected as the session border controller supplier for a major universal voice platform at this Tier-1 service provider in the United States. This platform is initially designed to support the existing customer's "over-the-top" and wireline service offerings and will become a key infrastructure component to their Voice over Long Term Evolution offering.
