NEWS
NEWS
NEWS
Acme Packet Beats Views, Stock At All Time High
Acme Packet (ticker symbol APKT) is a little known Massachusetts based manufacturer of session border controllers (SBC’s) which enable VoIP and videoconferencing via the Internet, a leader in session delivery network solutions, enabling the trusted, first-class delivery of next-generation voice, data and unified communications services and applications across IP networks. Acme sold 60% of all SBCs bought by phone companies last year, says research firm Infonetics.
Yesterday they released their first quarter financial results. Earnings rose 69% to 27 cents a share ex items, 2 cents above estimates. Sales climbed 45% to $74 million, also above Wall Street forecasts. Acme now sees adjusted 2011 EPS of $1.10-$1.15 (up about 40%) vs. its Feb. 1 forecast of $1.05 (up 30%). It sees full-year revenue of $310 million-$315 million (up 35%) vs. its February guidance of $300 million. Those are roughly in line with Wall Street forecasts.
The stock has been strongly uptrending for over a year and is currently trading at $82.50, up more than 7% from yesterday’s close and reaching a new all time high today
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